Since currently the transitioning of the Percentage counter at the bottom from white to orange to red has no function, I think it might be an improvement to have it serve a purpose.
It might be valuabel to give players a rough estimate of how the opponent will be affected by their attacks - kill power, breaking FH, etc - based on how dark their percentage is. Lighter characters get darker proportionately faster than Heavy ones, so that you can roughly tell how much your knockback has scaled by how red their Percentage is.
This will be especially valueable now that Workshop is live because a character’s weight value is not always intuitive.
It would not be any more distracting that what’s currently going on but would provide more information.