I was about to post a support request - but noticed a few started coming.
It converts 20 messages each time the cron job runs.
Verified using the statement below:
SELECT max(created_at), count(*) FROM jos_community_chat_activity;
If you want to know how many messages you have, run
select max(posted_on), count(*) from jos_community_msg;
I have 171.672 in my database. So that is 4292 runs of the Cron job. Or close to 3 days if I run it every minute.
Later:
I did search for the SQL or PHP code to change so it would convert a lot more, but could not find it. So I am doing the following hack instead:
I have disabled my usual 5 min cronjob and are instead running the following command in the console - it takes 4-5 seconds per run, so I should be done in 5-6 hours if my calculation is correct.
watch -n 5 'lynx -source "http://yoursite.com/index.php?option=com_community&task=cron"'
Edit 3 - I've changed it to wait 5 seconds between updates (-n 5) since it was making my site too slow :)
Edit 4 - Now i've hit a "0 - Error decoding JSON data: Syntax error" error - time to file a support request :-(