Today I was playing against a Nobushi and when I was low health she hit me with a bleeding. I was gonna die, but Revenge mode come up and I poped it to gain the 50%health shield. Revenge mode faded out after I recovered from my bleed and healed up to the minimum 1 block hp. Nevertheless as the Revenge mode faded I died all the same (with 1 white bar of hp).
This must be a bug in some way. I thonk It would be cool to survive a bleeding if you opo up revenge and are able to regenerate. But in the case the developers don't want that to happen, at least dont let the user regenerate hp, cause it's weird af to die with health still in your bar.