If you don't know, before the new GUI was in placed, you hold and drag on what you wanted to share such as a Health Capsule or a Vitapod off the button.
http://cloud-2.steampowered.com/ugc/560950979479904319/6CF89A979ADF1D217...
Since OOO made changes to the loot system that each person obtains a different amount of loot in the Clockworks.
What if some knight had 3% health and no health in their hotkeys; or if you go ta duplicate vitapod and wants to give one of your party members.?
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Reviving with health is simple: One knights, with health obviously, goes up (near) to a dead knight and clicks the button to revive their fellow spelunkers with half of their health.
http://i40.tinypic.com/2lutbgk.png
now there are much more consumables and viadpods dropping, because of instanced loot.
as for health sharing, I personally prefer the ER we have.
in a few words, you can't expect to have what you asked without drawbacks.