Ehhh I suck at asm. To me it looks like it just checks if you have godmode on, if so it checks that your hero is on the ecx register or something, if so it continues to godmode. The godmode itself is just moving the value of max hp to the value of current hp, so that you're back to full HP and then nops so that nothing else is written to current hp or some crap. If you can find the addresses for max hp and current hp with CE, then you can start doing it in managed code. You need to find static addresses though, the NOP (no operation performed) opcode is 0x90.
I'm not sure what's at "TwoWorlds2.exe+10dc90" but perhaps you should start looking there, it might be the start of the hero class or something, not sure.