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Event ID: 12300 Source: MSExchangeChat

No virtual servers are defined and enabled. Chat clients will not be able to attach until one or more virtual servers are defined and/or enabled.
Exchange 2000 Chat Service is based on Internet Relay Chat (IRC) & Extended IRC protocols. Microsoft developed IRCX a set of extensions that enhance the functionality of the standard IRC protocol. If IRCX protocol is started, but the chat community is not hosted on this virutal server, then you see this event logged. To resolve this issue, either add chat community for this virtual server, if you are planning to use Chat Service, or just stop the IRCX protocol if you dont want to use Exchange 2000 Chat Service. To stop IRCX Protocol, follow these steps:

On the Start menu, point to Programs, point to Microsoft Exchange, and then click System Manager.
Navigate through Servers - Server_name - Protocols - IRCX.
Right-click IRCX, and then click on Stop. Click Yes to proceed.
See ME555421 for more details.
As per MSEX2K3DB, the chat server will not accept connections because the chat community has not been configured in the IRCX Protocol folder.

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