Meh, I think Liz was just happy that her and Ronda put on an exciting first female fight in the UFC. Nothing more, nothing less. And if we're being honest, whether she made grievous technical errors or not, she looked a lot better than anyone else who has fought Rousey. I imagine that has a bit of an affect on one's spirits (ie. Dan Hardy being thrilled for surviving 5 rounds with GSP).
And yes, most predicted an armbar in the first. But said moment was about ten seconds away from not happening.