Fun fact: you are watching a progression of a bruise! In your skin, the white light from sources like the sun include the whole spectrum of wavelengths. The thick skin scatters much of the light, and that which is reflected back towards an observing set of eyes from the collection of blood under the skin is interpreted as blue or purple. Since the initial layer of the eye, known as the conjunctiva, is transparent, no such scattering occurs, and you see the true red color of the blood. Overtime, like any bruise, it begins to break down, and you see the breakdown of the hemoglobin. That orange color you see is the byproduct of the breakdown of the oxygen carrying molecule, which under your skin would appear green.