Lightning Arrow + PtL Damage + Bleed?

I'm a new player getting ready to start the game with friends later this week and my one friend was wondering about playing a Lightning-themed Ranger with a bow. She likes Lightning Arrow, so I'm looking at that. Her theorycrafted build has 55% chance to inflict Bleed, but as far as I know bleed is only applied by Physical Damage. So here's the part I'm wondering:

If she uses Lightning Arrow with "Physical to Lightning Support" attached to it, it should mean that all 100% of her Physical Damage is now Lightning. Does that mean that she is completely incapable of applying Bleed at that point? Or does the 55% chance from passives she has from the skill tree mean she'll have a chance to apply as long as the arrow projectile touches a target to make it bleed?

Fairly sure it would make her bleed fail, but just making sure.

Yes, bleed can only be inflicted by physical damage.