I had a compelling 6 day swap going with a great swapper in Oregon that would have gone longer had I not hit the "messages" button instead of the "reply". Thread wiped away. This is definitely one of those features that Photoswap V2 needs: the ability to store/recall friends and maintain multiple threads. As it is now there's not even a way to get a message back to say "hey, my bad!".
Here's what the buttons look like, and by hitting '1 message' instead of 'Reply',the thread was nuked and replaced by the new message sender. I don't have a particular problem with the layout, just the outcome.