Yes, good idea
But there always comes a fault.
When people get into an arguement and a site mod gets involved, one of the people can just EDIT their comments to make it seem like the OTHER person is the agressor, which is a very dickhead move.
So I've come up with a solution to this: Moderators and Owners of a stream(Including the Site Mods and Dev's) will be able to see the comment's edit history to find the truth