Ok, just thought of this the other day....tell me what you think.
Requirements:
1. You must be the Master Looter.
2. Make a spam macro that takes up the whole chat window.
Explanation: This should work extremely well for endgame instances.
Everyone has been on Strat/LBRS/UBRS/Scholo, or whatever. Now, as a Master Looter YOU are the only one who can see blues or purples that drop and it is your responsibility to link them in party chat. But if you are a dirty ninja looter....who cares.
Procedure: Random blue BOE drops off a trash mob in an instance, as Master Looter YOU are the only one who knows it is there. All you do is click the item, and click your name to give it to yourself. Then immediately activate your completely random Spam macro to get the message stating that you recieved the item off everyone's screen. Now you have the blue and nobody even knows it ever dropped.
If you are discovered: Now if somebody happens to notice you got it before your spam macro or they scroll up and see that you looted the item, they will probably say something like, "WTF?! Ninja!" Play it dumb. Reply with "?". They will then explain the accusation that you just grabbed up a blue/purple BOE. Reply again with "I know.....It's a BoE, I'm holding it till end...."
Bingo! Can't get a bad rep if you play your cards right.
Not sure if this has been posted, but I thought of it the other night and decided to post it to give back to this site since I have taken so many of your ideas and used them hehe.