I reccomend also downloading the Pallete Swap mod pack by tabs, the EX DLC mod pack by emc, or both. They contain a UI modification that will allow Morbius's custom lifebar name to appear. 

To install this mod, navigate to your ULTIMATE MARVEL VS. CAPCOM 3 folder, most likely in Program Files (x86) > Steam > steamapps > common > ULTIMATE MARVEL VS CAPCOM 3, paste the nativePCx64 folder in the same place as the already existing one, and say yes to any file overwrite questions. BACK UP YOUR GAME BEFORE INSTALLING MODS IF YOU ARE CONCERNED. 

It's Morbin' Time!