Bleed not applying after Blood Hunt

Using a 100% bleed chance skill (ie. Rake) after a blood hunt has consumed a previous bleed results in no bleed application.

To replicate:

1. Rake to apply bleed at 100% chance
2. Consume with Blood Hunt
3. Rake again (no bleed)

Subsequent hits apply bleed normally.

Ok, found the answer in the "Consume" tooltip:

"Consuming a debuff on an enemy causes the enemy to be immune to that debuff for 1 seconds"

That seems to be the reason.