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I'm not sure about the method names showmsg() and formatmsg().
Maybe: showwarnmsg() and formatwarnmsg()?
First I used warnings.show() and warnings.format(), but "format()" is already the name of a builtin function.
By the way, I would prefer to use underscore between names, like show_msg() or show_warn_msg(). But I don't know if it's ok to use a different naming scheme in an existing module :-/