Put your cursor on the timeline of the video (the white play line) and move slowly through seconds 11 to 12 (You can go frame by frame this way). Go back and forth on the timeline and you will easily see the liquid burst out onto the ground under her right arm.
She is shot in the head and there is no damage or blood to the head, but you can see her shirt rip and a blood bag become exposed. The second shot to the head also does no damage (a clump of hair or cloth seems to fly off) and it is after this that the blood bag appears to burst. There is no blood or damage to the head at any point in the video.
Comments in the video:
1.) Squib malfunctions, blood bag exposed from behind fabric. 2.) Squib 2 detonates, no blood spatter released after headshot 3.) Blood bag bursts beneath torso/right arm
The clip ends with a Hollywood example of a blood bag in use to give the appearance of a headshot.