I didn't see the use of texting either till a friend explained some of the benefits:
1. In professional settings, it is often more appropriate to send a quick text to a colleague rather than call. This way, they get the information without having to talk and interrupt what they are doing.
2. You need to get a message to someone and you don't want to interrupt them or you are in a situation where you can't talk.

Those are the only two reasons why I text someone. When I am at a conference, I will text my Principal information and he will text me info that I need. I will also text my husband if he is in a situation where he can't answer the phone. He took our daughter to the doctor and I wanted to find out what what happening. He got the message and replied when it was appropriate, then called when he was able to. I'll also text him if I need to tell him something real quick, but don't want to disturb him (like when he is in the middle of working cows).

As far as the chit chat texts go - they are stupid and are a waste of time. What bothers me more is when people use text lingo when posting on boards such as this one, or in other places, like assignments (don't get me started there) and letters. Just my 2 cents.