There is no blood until you see a man’s hand come near her and he looks like he is pouring something on her. Then you see blood.
I can see why people think this is fake. I tend to believe it is real. I just can’t explain what that guy is doing before you see blood.
The photo they are releasing of her is not of a 16 year old unless they age pretty fast in Iran - which might be the case.
I think what you're seeing in the man's hand is just his wristwatch. The blood is on the ground, her jeans and her chest before they lay her down. They have their hands on her upper chest because they are trying to stanch the blood from the entry wound.
When you see her eyes roll up and fix, she is already gone. The blood pouring from her mouth and nose is simply her heart continuing to pump.
I've investigated a lot of horrible deaths, and I've been at the scene of a fatal while they were pulling the dying out. This is for real. I don't see how they could fake it.
Look frame-by-frame at the video.
http://www.casttv.com/video/l5to8e1/neda-video
The man's hand is on the other man's hand, and he lifts his hand away towards her head. There is nothing in his hands, other than the blood from her chest. Her mouth is closed near where the man's hand was. And blood oozes from the other corner of her mouth. Not fake.