Just posted a new version. Now the script now supports gray-scale option, improved position, and the script now uses the background color of the default wingmen gauge, thus it matches your current color configuration settings. Also fixed quite a few minor bugs.
Hmm two horizontal lines is a good idea, then it would nicely fit with the old gauge's placement. Changing the line colors and whatnot in a configure file is certainly doable, but since the player can alter it from the HUD Configuration in game I think that covers most use cases.
Just to note, the max list is 5 wings, since the script gathers the wings to list from the "Squadron Wing Names" in the mission file.
Thanks for both of your suggestions. I would be happy to hear any additional feedback, too!