An easier check system would probably be a couple temperature sensors. One just before the injector and one about a foot after. The second one should be slightly lower temp than the first.
Also, don't the turbo wankels have a knock sensor of some kind? There's a gauge for that which "knock link" sells (or something similar) ... it has a face that will change colors with varying grades of knock, and an analog needle. I know you didn't want to watch any more gauges, but I thought it would be worth noting since it will change colors if there's a problem so that you don't have to watch it like a hawk.
A PTC resistor, like used in a MAF sensor, would certainly be able to keep track of the cooling effect of the water (or normally air) across it, and it's designed to react quickly. Unfortunately, for it to be useful, you'd need two, one before and one after, to keep close enough track of the WI's effect.
Adrian~
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