Sounds cool. But I used MSBT to report everything my alternates are seeing. You simply have to find out the right channel such as PARTY_SPELL_DAMAGE (may be wrong spelling but you get the picture), and then it will help you parse the sentence and report the way you like.

I have a setup that tells only how much dmg my warlocks do. The original sentence I see on my tank's screen should be CharA's Shadow Bolt hits BeastB for X amount of dmg. But it turns out to be CharA: X on my screen. Very neat and tidy.

You could find that addon on Wowinterface.com I suppose.