she dies and is reincarnated again. The reason I believe this is because: as miss vampire lady bites into the other girl, she gets flashbacks memories of her "previous" life. Then she turns and tells the vampire lady (with her life draining from her eyes)and tells her, we will be together forever. For me this makes me believe that the process didn't work, but the girl knows that she will reincarnate again. This is assisted by the mood, both of them seem to be crying (not happy tears btw) and the dead eyes of the girl