Will your actors be wearing costumes? Can you squirt tomato ketchup onto them or use food dye instead? If you are painting in on someones face, make sure they are not allergic to it. For painting (blood or anything else for that matter) on frames of video you will need the likes of Adobe After Effects, you can't do that in Premiere. Again for the Kung Fu look, lots of close ups of the eyes, especially before a fight scene, quick cutting from one scene to another, out of sync dialogue (remember the tv series 'Monkey' or those early Bruce Lee films?).

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Better than a poke in the eye with a pointy stick any day...