Yes, I think it does. Depending on when you pass her, she's holding either an axe or nothing. In my picture, I think her arm looks kind of weird too. But it could just be the ghostly effect... On a side note, is her name Lizzie Bordon??
Now now, Lizzie Borden was acquitted, it's mainly legend that keeps her notorious as an axe murderer... Anyway, I believe the bride's arm moves and the axe appears as she holds her hand up.
I haven't been posting every day (and the "1 per day" rule is being bent pretty liberally lately ) so here's a couple shots I took showing her with and without. These pictures were taken two seconds apart, so I think it's safe to say that you can see both as you go through the ride.