As much as I dislike revealing other players to an advantage they can have in-game, I wish to give you a lot of credit by saying this: I don't like mods too much unless they give a clear advantage to my gameplay, but this rainbow ring appears to be beneficial in 2 very normal situations. First, being able to detect more clearly from a distance who or how many people may be chasing you while capping, and second being able to detect the location/direction your opponent has dodged toward more quickly as a result of the rainbow ring emitting from them after dodging (for those who haven't seen what the unintentional rainbow ring for dodge looks like).