I love the idea of an indicator for shields, and one that shares with the HP bar is fine.
If there's really a concern about the shield bar hiding how much real HP you have left, you could always just make the shield bar a semi-transparent overlay on top of the HP bar. That way, you could see that the target is shielded and by how much, as well as how much real HP they have.
I do wonder what should be done if a shield is stronger than a player's max HP bar, but this probably wouldn't come up often. Maybe when a high level SCH crits an adloq on a much lower-level player? It'd probably just be fine to ignore any spillover, just have the whole bar filled with shield until the shield is chipped low enough to be measurable again.
Eh, SE's excuse as to why they couldn't give us a TP bar was server limitations, not PS3 limitations. I'm guessing their excuse for this one would be the same. Hopefully, as with TP, they'll eventually give in and give us something.
