A retired Snowbird pilot was interviewed and he said the ejection system is not 0/0 it is 0/60 (or 60/0) .... it is old school and you need a lot more altitude than modern seats .... he also said the pilot followed procedures for power failure .... nose up , gain altitude , hit air-start .... and if no start then eject ..... and that is exactly what the pilot did ... except he ejected a bit late.
I listened to the video and there is definitely an engine "pop" just after takeoff and that is when the pilot tried to gain altitude.
(my guess) is the delay in ejecting was maybe because the pilot wanted to make sure his passenger ejected .... she was part of the team but as public relations .... she would have had some training but he wanted to make sure.
No witness reports of chutes fully opening .... pilot hit a roof and badly injured .... sadly the lady passenger hit a tree and did not survive.
Only "good" thing is the jet went straight down into a front yard so minimum residential damages