It's it's fight with Dutch, the Pred it morally wounded. He goes on to activate 'something' on his wrist. Dutch, suspecting it's some kind of bomb, hightails it out of there.

Obviously this was a bomb. But I have two questions in regards to this.

1) what actually explodes? Is it explosives on the Preds body? Or was it a self destruct for it's ship?

2) if honor is so important to the Pred, wouldn't the Pred have respected Dutch's win, and at least gestured for Dutch to run?

I can understand that as a species, the Preds wouldn't want humans to get ahold of one of their bodies, or on their technology. Hence the countdown. But isn't the Preds actions of trying to kill Dutch with the explosion show dishonor?