This paper describes an exploratory, observational study using a purposive sample selection to determine if the presence indicators of the well regarded Community of Inquiry model can be a useful tool to observe and assess learning events which use a Multi User Virtual Environment (MUVE) as the mode of delivery.  Specific research questions addressed include whether the Community of Inquiry recognizable in a MUVE learning environment, if new presence indicators are required if observing a MUVE learning event and finally, does the community of inquiry offer a base rubric to determine the educational effectiveness of learning events which take place in a MUVE? The results are promising; while new presence indicators add breadth to understanding the nature of learning in an immersive environment the core construct of the community of inquiry does indeed transfer to this emerging learning technology