Level up indicators showed up on the character portraits but never went away and there was no way for me to allocate points or skills to trigger them to clear.
That suggests to me that you didn't find the spots where you have spare points to allocate. When you level, you get points in Skills, and either Attributes or Talents. That does bring up a good point, though:
UI Suggestion: When you have spare points to allocate in a category, the tab for that category should glow until the points have been spent.
Having the ability as a solo player to view party character inventory side by side would be helpful it was a pain to click and drag one item then hover over portrait in inventory click little red arrow to next inventory screen then drop item and rinse and repeat.
UI suggestion: It can be momentarily when you have one party member as your lead, and are trying to interact with something in the other parties inventory. The portrait for the active party member in the inventory screen should be the same gold colour as the "currently selected" party member, so its easier to know who the lead is from the inventory screen.