I'm currently in game and while I can't find a feature that specifically mentions target name rendering, I do know that even with "NPC Names Always Show" you do have to be close to it to see name, however, an easy fix is to change your settings under "User Interface" - "name and chat bubbles" , way down towards the bottom you will see "Show names for NPC's" ... I would (and do) set this at "Target or Mouseover only" ... now to see the name of an NPC farther away simply mouseover them or target them and their name should stay highlighted.
Granted it's not what your looking for, and it is nowhere near as fun as tracking, but if you have your rendering up high enough to at least see a mob before you are in aggro range you can easily target it to see if its the one you are looking for.
____________________________ Things I sometimes play...
"What do you want to be when you grow up?"
"I want to be a unicorn!"
"Awww, why's that?"........
"So I can stab people with my face."