Good golly, the GOO fell off!!!
I wonder what is flaming? The sign appears to be mostly metal, is it just wireinsulation, it also sounds like something glass dropping off.
Yeah, probably wiring and most likely, tar from the inside of the neon sign transformer. Once they get hot, they leak all over the place kind of like a fluorescent light ballast. Wouldn't be surprised if this was caused by a 15kV arc from the transformer secondary to the grounded metal chassis. Pretty common in neon-related fires.