H0RSE is such a good guy, seems like he always has the answer. According to him, it seems that it marks a person for your whole team, but it only shows up on the mini-map.
Horse said: Homing Beacon – Homing Beacon allows you to place a beacon on an enemy target so his movements may be tracked on the map.
Does this homing beacon only active until the player has died? Or does the beacon remain on him for a set amount of time, regardless of how many deaths?
I dislike the idea of having an 'aura' (like what jessalon said) around the MVP. Because if your a really strong player, and your the best on your team, and the game places an aura on you, then IMO that ruins the game for the person. If this aura is placed on him because he's MVP then that stops him from playing as an Operative because he can no longer 'sneak' behind enemy lines if he is constantly being monitored and tracked. But if the Homing Beacon, is like what HORSE said, and it must be placed on by an opposing player, and is removed after death, then that's perfectly fine with me! I just really hope these Homing Beacons arent spammed or overpowered.