Except, In Halo 2 Classic, the game that this collection was supposed to celebrate, the only way to tell who is who in a team game is to have your reticle on them while they are alive. Red Xs tell you nothing (because you just get an icon under it), the icon locations in your peripheral tell you nothing (because they are all the same). So unless your plan is to play multiplayer while aiming directly at your teammates the entire time, then no, there really is no other way to tell who is who.
Edit: Also, for whatever reason, the service tags in Halo 3 don't work for me. No matter what I enter for a tag, my Halo 3 service tag is totally random and changes every game I play.