http://205.243.100.155/frames/mpg/XfrmBlast1.mpg
Here's a daytime explosion video (5.1mb) that shows just how violently a transformer can explode. A fault in the low-voltage side caused a ground arc, which fused most of the internal metal parts together and boiled the mineral oil that normally keeps it cool and insulated. As the oil boiled, pressure release valves sprayed boiling and gaseous oil into the air, and when the pressure ruptured the tank, the arc ignited the mist and blew chunks of transformer housing and globs of burning oil into the air.