So Cold It Boils? Take a deep breath. The air you breathed in is mostly made of of a gas called nitrogen. When liquid nitrogen is made, it loses lots of its energy that it had when it was a gas. When it loses energy, its gets COLD - we're talking -320 degrees fahrenheit cold. So why does it boil? Compared to the super-cold liquid nitrogen, the TV studio was really, really hot; hot enough for the nitrogen to boil. Liquid nitrogen would even boil in Antarctica!
As for the balloon...my breath was always in the balloon, but the carbon dioxide from my breath uses less space when it gets super cold, so the balloon shrank as the carbon dioxide inside the balloon compressed - cool huh?