I'm willing to bet that such software would be very hard to develop.
Requiring 5 second pauses after speaking to allow for thought would be an interesting experiment.
Could you say more about the difficulties you foresee? I'm guessing that Bloggingheads would have the two separate streams of audio from each microphone, which should make it somewhat easier, but even without that figuring out which speaker is which doesn't seem beyond the realms of what audio processing might be able to do.
Sweet, there's another Bloggingheads episode with Eliezer.
Bloggingheads: Robert Wright and Eliezer Yudkowsky: Science Saturday: Purposes and Futures