You can enter any characters you want into the log field.
For example once I wanted to make a HTML log file that you could view in a browser.
Basically I just created a file called log.html, added <table> to the top of the file and saved it.
In IVM I just used a log string like <tr><td>label 1</td><td>%var1%</td></tr><tr><td>label 2</td><td>%var2%</td></tr><tr><td>label 3</td><td>%var3%</td></tr>
The result is an HTML page that displays the log information in a table.
You could for example use <br> to enter a new line in an HTML based log file.