Still bleeding after 4.5 hours of compression on the insertion site is unusual. You should have clotted by this point.. so I don't know if you took any aspirin or anything else that could have caused your platelet action to be inhibited -- but the description of the needle insertion and removal (and adjustment) obviously made the puncture wound larger than it should have been, but it *should* have still clotted at 4.5 hours if you had a bandage with proper pressure around it. At any rate, if it's not bleeding now it's fine.
The bruising will likely get worse.. I can't imagine the blood not seeping to the surface of your skin.. so you may likely see more bruising in the coming days.
What occurred through the incompetence (I'm sorry this is my field and these stories really aggravate me) is the vein was likely missed, then the phlebotomist went THROUGH the vein and likely twisted and backed the needle up to finally get a positive vacuum flow for your donation. There are nerve fibers all along the edges/periphery of your superficial blood vessels,.. and these can mostly be avoided with proper technique (which didn't happen here). Now, what has happened is you have a Thrombosis -- Which isn't particularly serious in the location this is at.
It is not normal to have this kind of pain during and after the blood draw,.. but it isn't life threatening. You just need to treat it to speed the recovery/healing.
You need to use Ice initially to reduce swelling (elevate the arm if it feels better *not above your head.. but level with your chest if you wish.*) and take some Ibuprofen (aka: Advil) -- this will help reduce pain, and the ice + NSAID will reduce the swelling and inflammation, helping the pain.
You can *alternate* heat (heating pad or other source) with Ice. Sometimes heat will help the pain more than Ice in these cases. So if you have a heating pad around, or some thermapacks (the packs you open and they produce heat for X hours) Or a rice bag you can microwave, etc.. try it as well.