Unedited version of the clip. I don't see a bubble in the unedited version, and while the conspiracy video makes the claim that the astronaut says "water," and my Chinese is
exceedingly rusty, but IIRC the Mandarin word for water is pronounced "shuway," which I do
not hear on either the edited or unedited video. You'll notice that while you see lights reflected on the watch face and a wrist mirror (if it is a wrist mirror, and I wonder why they felt it necessary to have that), you
don't see them on the face shield.
Another, more complete clip, of the unedited video. In this one, you get a fairly decent look at the "wrist mirror" and while you
can't see exactly what it is, you can notice twin rows of dots on it. The
position of the dots
do not change as the astronaut moves his arm around. Were those dots a reflection of something, I'd expect them to shift as the astronaut moved his arm. I think that this can then be said to be a definitive case of interweb fakery.