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Hello RTVFX,
Here’s a WIP version of a blood splatter I’ve been working on.
The animations and models are placeholders, and the spritesheet is pulled from google with the intention of rebuilding later in Houdini.
Here’s a link to my pinterest board for the project: https://www.pinterest.com/willquinlanfx/meet-the-soldat/
Please enjoy!
Overall it’s a good start. you have all of the elements of a blood impact (spray, trails, decals). So at this point I think you should focus on refining the motion and shape of the overall effect.
I took a clip from the Call of Duty video you listed as a reference.
In this clip the blood is exploding out from the impact point. By comparison your blood is simply moving in the direction of the weapon swing, which I think hurts the forcefulness of the impact.
Also, your effect has a large volume of blood, which doesn’t feel justified to me. So I would reduce the amount of blood.
As a final note your camera angle feels a little awkward, maybe pull the camera closer and lower the camera height.
I look forwards to seeing your progress on it. 
Hey James, thank you so much for your feedback!
I’m glad you pointed out that the blood spray actually moves in the opposite direction of the weapon, anatomically speaking coming out of the opening in the skin. It makes more sense now than moving like debris, which was how I originally thought about it.
The sheer amount of blood is a result of my idea to use Event Generator to create the splatter, so I kinda got caught up in trying out that technique rather than sticking to my references. I will definitely dial it back.
I took another swing at this effect, focusing more on duplicating this one from Modern Warfare: Call Of Duty: Modern Warfare Finisher GIF by William Quinlan | Gfycat
I used a vertex animation made in Houdini for the blood splatter, which is the biggest change in workflow.