
how about a magnet at the midpoint of a stiff (carbon fibre etc)rod fitted inside the balloon. (top to bottom)
with a reed switch on the outside attached to the lower end of another length of rod..
with the top end attached to the top of the internal rod (or the plug/bung or whatever is there
positioned so that upon bursting the 2 rods will swing together allowing magnet and reed switch making the contact.
im sure you could improve on the basic idea with some thought.
Mark.