The chat should load okay, the only thing that you won't be able to use are the cams because you need Adobe Flash Player installed which Apple won't allow to happen for various reasons, click here for the story.
What's happening for you when you're trying to connect? Using 3G or Wifi?
iPhone 4 running iOS5. The problem is that the page works exactly like it does using a PC! Great on your PC but it makes it compressed and unmanageable on the iphone... No pleasing some, I know!