Quote from RabbitThat is indeed the BigWigs proximity display. If the circle is red, people are too close to you, if it's green you are safe.
To turn it off and go back to the old name-based display, open the BW options and click the "Configure ..." button, then the Proximity tab and uncheck the "Graphical display" option at the top.
Thanks for replying :) I was using r8120 and didn't have it yet. I saw the new proximity in a boss video on youtube from 4-5 days ago and didn't think to check the alphas since I had updated just the day before, pretty dumb in hindsight.
Anyway it looks really nice, good work!