Etchy Translation Skills:
1st box labeled health gauge: The gauge curved into an arc, will gradually decrease (this is the health bar, and it decreases because you take damage). The remaining health bars, are shown in the top as these little spherical icons!! So basically, the health bar system is the same as the tenkaichis, budokais, etc.
2nd box labeled ki gauge: Half of the circumference surrounding the face icon, is the Ki gauge!! There are two areas, one half is spent on special techniques!!. So I'm assuming these guys have put in something similar to the ULTRA combos in SFIV. I think it's a pretty good idea.
3rd box labeled face icon: Each time damage is received, the impact is delivered!! If health is reduced to one bar (one sphere) then it will become red! So basically, damage is now shown on the portraits, becomes red when you're weak, simple stuff.