In the Actual Plays I've seen, hero tokens seem mostly used as backup Recoveries. It seems fairly common that someone (often a Fury) wades into combat and takes a lot of damage in order to also deal a lot of damage – partially because of reckless behavior in getting into good positions, and partially because Furies in particular get rewarded for taking damage (through more Ferocity and in some cases specific abilities). On one hand, this is good because it saves everyone else recoveries, both by acting as a focus for enemy attacks and by shortening combat length overall. But it does lead to lopsided use of recoveries. I've seen quite a few cases of "I've got 7 recoveries left so I'm fine. – I'm at 5 so I'm happy to take on another fight. – I'm at 1."
I think to some degree this might just be people not being used to the peculiarities of the system – in D&D, you can build a character to have a fairly high AC which reduces the damage they take and often negates it entirely, but in Draw Steel all attacks hit and deal at least some damage, so tanking isn't possible in the same way. You want to spread the love around a bit to make sure the use of recoveries is at least somewhat even.