Doesn't torque come standard with a health-bar?
Only the energy bar, as far as I know. It does have a GUIHealthBarCtrl or something along those lines but I think since Badspot removed clientside callbacks for damage that it is non-functional.
Edit: Also I had an idea to make shapenames color depending on your health, but then there's no minigame coloring. So I suppose that would be good for a server gamemode or something.
(Like, it's green to begin with and fades through yellow and orange to red)