Well, if we are to believe all those classic sub movies, the guy on the hydrophones would report that your torpedoes are 'running hot straight and normal' if they are doing okay, and I did consider modifying the launch wav file to include this, but if they weren't 'running hot straight and normal', it would be a bit silly, so I never bothered
However, you could track them yourself on the hydrophones (assuming it's a submerged attack) and then say it to yourself for the ultimate in immersion