It's been released. I'd suggest doing a quick search (if it hasn't been posted for 5165 (which I'm 99.99 pct sure it has been) then search for the 5095 coemu version and modify it.
You basically need to handle the client packet/subtypes and tell it to remove the account/items/etc from the database and set their account db back to a state at which they can create a new character.
Simple, you make a method that finds+deletes the specified character file, then for the button, case packetid in the packet handler, then call the delete file method.