In the default GRID config - no. You have to click the grid of the character to target them and then right-click the unit frame to get the context menu for inspect, trade, uninvite, etc.

However, I see greater benefit to using GRID as a dps class than just knowing "when a wipe is imminent". Being able to see who got the disease, which healers are down, or which tank just went splat can allow you to change your game play to actually PREVENT a wipe (ok, situational, but still true on occasion). In more broad situations, at least you aren't going to die from proximity death because you are (no longer) standing by the guy who just got burning bile or blood nova.

I'm a raid leader, so it's helpful for me to see lots of information about every raid member, even when I'm dps, in a compact addon that light on screen real-estate. It's not difficult then to extrapolate other circumstances where I'd want to see all the info, even if I wasn't leading and keeping track of people's goofs.

You can use GridUnitMenu to replicate the standard right click menu.

Sorry for a noob question :) but is there a way to download this wonderful UI?