I experienced the same thing.

I had been hit by a zombie and was bleeding, I finished off the zombie and bandaged, I then noticed I was still bleeding. I tried using my bandages 3 more times, until I passed out and died, and each time it would say "The bleeding has stopped" immediately followed by the "You feel warm blood" or whatever then indication was.

I had already bandaged previously with both rags and bandages in the same life and it worked so not sure if it might have something to do with that.