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Turn Watcher looks amazing. I especially love the dual-monitor support and the ongoing effects tracking. However, I thought of a couple of ideas that might improve the program.
1. Allow text and background colors to be changed.
2. Allow different icons to represent characters and monsters
3. Allow the program to list the effects upon a player or creature, rather than "1 of 1 effect." This way, players can see effects that they have produced while the DM is privy to the effects of which the players are still unaware.
Other than this, the program is amazing. Well worth the price!