It's the same on the PC. There is another tell for mage light. Your hands glow when it is on.
PC/NA/DC
Breton Sorcerer Maester.White - BB meets GoT >Master Crafter< { 9 Traits completed 4/23/15 } TANSTAAFL--->There ain't no such thing as a free lunch.....Robert Heinlein Women and cats will do as they please, and men and dogs should relax and get used to the idea....Heinlein All those moments will be lost in time, like tears...in...rain. Time to die. "Blade Runner" ESO: the game you hate to love and love to hate....( >_<) May RNG be with you (*,_,*)
You can toggle the circling orb on/off in your settings section. I believe they added this after a lot of us complained how obnoxious the floating orb was (I liked it at the beginning too, but after awhile it becomes quite annoying, especially in group content). I have mine toggled off and I have a subtle blue moving glow. Often I can't even tell it's on except for the skill bar having it highlighted.
Yes, I'm also experiencing this on the PS4. Though mine seems intermittent and others tell me that they see the orb on their screen while it doesn't always appear on mine.