Hehe, I learned regex recently so I decided to try it out with something like this. The regex string isn't all mine, however, cause I had some help from the people at Quakenet (thankies!). Typo also helped me with a couple of things, so kudos to him too.

This highlight manager allows you to easily set options as to what you want to do when highlighted, and easily allows you to manage which words are activated.

Load into remotes and type /highlights

Any suggestions/errors (shouldn't be any) would be greatly appreciated.

#highlight on
on $*:TEXT:$(/\Q $replacexcs(%high.words,$chr(32),\E|\Q,\E,\E\\E\Q) \E/Six):#: {
  if (%t.ip) { noop $tip(Highlight,Highlight,You have been highlighted! $crlf $+ Server: $server $crlf $+ Channel: $chan,5,,,,) }
  if (%h.msg) { .msg $nick %h.msg }
}
#highlight end
dialog highlight {
  title "Highlight Options"
  size -1 -1 119 154
  option dbu
  check "Enable highlights", 1, 5 11 55 9
  check "Make a tip when highlighted", 2, 15 21 85 8
  check "Message the nick when highlighted:", 3, 15 32 97 8
  edit "", 4, 14 44 100 10, autohs
  box "Options", 5, 2 0 115 57
  list 6, 6 69 107 70, hsbar vsbar size
  button "Add", 7, 47 140 32 12
  button "Remove", 8, 82 140 32 12
  box "Words to activate on", 9, 2 59 115 94
}
on *:dialog:highlight:edit:4: { set %h.msg $did(4).text }
on *:dialog:highlight:init:0: {
  if (!%high) { did -b $dname 2-9 }
  if (%high) { did -c $dname 1 }
  if (%t.ip) { did -c $dname 2 }
  if (%h.msg) { did -c $dname 3 | did -a $dname 4 %h.msg }
  tokenize 32 %high.words
  var %a = 1
  while (%a <= $numtok(%high.words,32)) {
    did -a $dname 6 $gettok(%high.words,%a,32)
    inc %a
  }
}
on *:dialog:highlight:sclick:*: {
  if ($did == 1) {
    if ($did(1).state == 0) { unset %high | did -b $dname 2-9 | disable #highlight }
    if ($did(1).state == 1) { 
      if (%h.msg) { did -e $dname 2-9 }
      else { did -e $dname 2,3,5-9 }
      set %high on
      enable #highlight
    }
  }
  if ($did == 2) {
    if ($did(2).state == 0) { unset %t.ip }
    if ($did(2).state == 1) { set %t.ip on }
  }
  if ($did == 3) {
    if ($did(3).state == 0) { unset %h.msg | did -b $dname 4 }
    if ($did(3).state == 1) { set %h.msg $did(4).text | did -e $dname 4 }
  }
  if ($did == 7) {
    did -a $dname 6 $?="What word would you like to be highlighted on?"
    var %a = 1
    while (%a <= $did(6).lines) {
      set %high.words $addtok(%high.words,$did($dname,6,%a).text,32)
      inc %a
    }
  }
  if ($did == 8) {
    if (!$did(6).sel) { noop $input(You did not select anything to remove.,uwo,Error!) }
    else {
      unset %high.words
      did -d $dname 6 $did(6).sel
      var %a = 1
      while (%a <= $did(6).lines) {
        set %high.words $addtok(%high.words,$did($dname,6,%a).text,32)
        inc %a
      }
    }
  }
}
alias highlights { dialog $iif($dialog(highlight),-v,-m) highlight highlight }