http://ambient-wall.appspot.com/
It's also on github here:
http://github.com/bdailey/ambient-wall
The reasons for it's creation are there on the page (oAuth iplementation, all web-based, allows regex-muting, etc). I've added much of the basic functionality. The next thing I want to add is the ability to manage lists.
Also, it was an excuse to learn Python. So if the code isn't as pretty as you like, that's why.
Edit: I'm also aware it doesn't work in IE. Hasn't been a real priority yet as it's mostly for the nerd-herd.