More 'helpful speculation' here:
Flash of ‘fire’ on doomed Red Arrow | The Sun |News DTel has also picked up the story, so it must be true. Unless, of course, what our spotter photographed is an anti-collision light. Perhaps the header should have read "Flash of 'fire' inside light bulb on doomed Red Arrow".... However, the sub caption is absolutely spot on: "Light caught on film moments before crash."