Interesting. Using "blanks"? I think I heard that correctly. Also, given the camera position for the draw and shoot two drill, I hope he was shooting blanks.
If shooting blanks, I guess the balloons pop from the expelled hot gas, yes?
Finally, at the very end they shot the draw shoot one and reholster drill a few time from the side. The last time they show this, it appears that the revlover is angled downward when the shot goes off.