What if they implemented a time input for showlag;
showlag - Shows it then disappears from the screen like it does now.
showlag 0:00 -Allows a user to tell the server how long they want their ping to be displayed, in this case 1:00 would be an hour and 0:01 would be a minute.
Then if you want to remove showlag before the time limit ends simply type showlag and it will overwrite the last input.