I agree
I think the glowing may be a heal spell. It looks a little like he's holding up his hand to cast the spell.
And he was in a fight with a dragon, there's a pretty big chance he lost some health.
if you go to 1:15 you will see a healing spell, but we haven't seen it in third person so i dont know
http://e3.gamespot.com/video/6318258/
i think it will be a yellow swirl like thing not blue anyway