Thanks for the suggestion; trying it out now. I like the format of Butsu more than Xloot though, so I'll have to see if picking that up means I have to drop Butsu.
I wanted to mention one other addon I came across:
BadgeBlocker, by Tamaroth. It allows you to filter loot messages other than your own by individual items. The obvious example is the Badge of Justice; in most cases, you really only need to see that you yourself looted it.
That still leaves the problem of all those useless greens that drop in raids though; most of which do not need to be seen except maybe if you loot one yourself. I requested that he add a filter for item rarity, and he said he would look into it.
I'd still like to know if anyone knows an addon that can edit the message that's displayed when someone loots an item. If anyone knows of another addon that can do this, lemme know.
Lduvall