Pete Hines, the Vice-President of Marketing at Bethesda, declared via Twitter that the blood animations will not have an option to toggle them on or off.
Hines was asked if blood can be disabled on his Twitter account, and he replied, "You cannot disable blood/gore in Skyrim. Sorry. My oldest kid is not happy he can’t play either." Bethesda seems to have a strong belief in the presentation it will be giving with the newest installment in the Elder Scrolls series. However, it’s hard to imagine an Elder Scrolls game without blood at this point.
Elder Scrolls: Skyrim will be releasing on Playstation 3, Xbox 360, and PC on November 11.