pickobject=1 is a condition.Means the object is center screen, I would use plrdistwithin=150 so it doesn't trigger too far away. Using pickobject means whatever you want to happen only does when facing the object and its...well...centered.
I personally would go with an entity spawn/destroy using these...you could use a simple cylinder with alpha channel text which rotates above the object (better looking than a hud which would not look 3d or part of the scene) when spawned/hidden.
Quick example:
:state=0,plrdistwithin=100,pickobject=1:hudshow=
I would use this to show hud or spawn the floater object, same conditions to remove and probably a keypress to pick up and at same time to remove the floater or hud, depending on which you go with.
The script idea above would go in the target object. If you are spawning a floater entity it would have its own activated= script and the target object would have 'floater' in ifused. I cant explain it much further without actually writing the scripts and creating the objects for you but I hope it gives you the idea.
Here is an example script for health boost when within distance and using pickobject, hold right mouse button to use. You can drop this into any object. Just create an image called healthfull.tga and put in appropriate file path to use it.
;Artificial Intelligence Script
;Header
desc = health base
:state=0:hudreset,hudx=50,hudy=60,hudimagefine=gamecore\text\healthfull.tga,hudname=fullhealth,hudhide=1,hudmake=display,state=10
:state=10,plrdistwithin=80,pickobject=1:state=1
:state=1,pickobject=0:state=10
:state=1,mousestate=2,plrhealthless=99:setframe=0,plraddhealth=5,state=2
:state=1,mousestate=2,plrhealthgreater=99:hudshow=fullhealth,hudfadeout=fullhealth,state=10
:state=2:incframe=0,state=3
:state=3,frameatend=0:state=4
:state=4:hudshow=prompt,state=0
Although the hud in this case only shows after health is full it should point you in right direction.
Awesome! Its one of those threads.