If you can be revived will depend on how much damage you received. I think it would be a bit strange when you get shot with the Truvelo and can be revived, walking around like nothing happened shortly after :P When you can be revived, you will stay where you are. You won't be able to move anymore or use any items. You can "Self Delete" to respawn, or you can stay and wait there until someone revives you.
like that one tom clancy game, ghost recon.
That sounds good, but maybe have it so you have very little health, and any damage of any kind will kill you.