This whole change has both pros and cons.
For those who like uncloaking, /1ing and blowing the target to smithereens without any time to respond, I reckon this'll sort you out. Especially the Nomadic population, as much as they are supposed to be violent and unpredictable. This does get a little old "Gibberish, uncloak and pop the ship. Cloak." Rinse and repeat. +1 in that respect.
It does mean however, RP can't be done at all considering the entire chat is disabled. I think group chat should still be permitted while under cloak. Me being an example, I tend to sit and RP with people while cloaked or for scouting enemy positions during a raid ect in group. Private message would be good also, again for the same purpose. Not for direct engagement. A few people can support me on the fact I've created some interesting scenarios like this while cloaked. - I've noticed this changed but it still doesn't work for me, busted client probably.
Overall, good idea. It'd be nice to see it tweaked a little for the RP purely but somehow an anti-abuse mechanism. That even possible?