Looks like air gaps all right. Since they run down one side, could it have been the form setup applying more pressure to one side? Could your hose have lost pressure?
I feel for you. That is not a good thing to see when you pull the tape off :(
I would attempt to do some kind of repair, although I don't have any suggestions. I would also start another bow since it is for a VIP.
Nice looking bow there for Mom. What are the veneers and specs on the bow?