Final answer:
The bright blue color and formation of bubbles indicate a chemical reaction between the two liquids.
Step-by-step explanation:
The bright blue color and formation of bubbles indicate that a chemical reaction has taken place between the two liquids. This is likely a result of a chemical change, where new substances with different properties are formed. In this case, the clear liquid and the other liquid have reacted to form a new substance that is blue and produces bubbles.