Not for everyone but glad you enjoyed it :)
The scene called for it really and as said, it was almost perfect in pacing and flow, indeed back and forth non stop.
This happens quite often however, for dramatic scenes like this of course, but even when we're just exploring a cave, dungeon or something, using tons of emotes and little party banter very freely and often, even for completely mundane things, since it's not interrupting anything or anyone, have no technical issues whatsoever, no accent problems (we got 3 or 4 countries from all over the world I think in there), and the GM can keep at his own pace, as we ourselves (PCs) entertain each other non stop on top of it.
That said, some of us are more use to it now since we've been at it weekly for the past 6-7 months and we type decently fast, focusing more on meaning than the proper spelling of words and whatnot (as can be seen in the log hehe).
A key thing I think when using chat is to structure your sentence blocks in what I call "breathes". Each emote and sentence should be long enough to explain what you want to, but short enough to mark the "breathes", which give others opportunities to rebound faster and keep a good pacing.
another thing, if you got hyper pro active players, it's a good way to allow them to CONSTANTLY interact, without holding the "speech baton" away from anyone.
Finally, I think some folks do it differently. Either GM uses voice while all players only use text, or another I've heard about it everyone can use voice for OCC stuff, but all IC stuff is 100% chat.
Can't know 'till you try though :)