I would consider it wall glitching as soon as the bullet trails are seen going through the body of the vehicle as they don't penetrate the vehicle and instead ghost through whilst the player character firing the weapon is shielded from return fire. So to take the video into perspective:
In this screen its clear to see that its a wall glitch:

In this one to the top right:

It looks like it possibly may be aswell, but his head is visible. It would have been possible to stand behind the middle of the vehicle at the side and fire straight through. The anti-wallglitch feature in 0.4 should combat against this if the player is standing very close to the vehicle but if there standing a metre back its possible to glitch through the bullets without damaging the vehicle itself. The same goes for lower vehicles like cheetahs, crouching and firing behind them has the same effect but since its not possible to crouch and fire with M4/Ruger this should somewhat combat against this.
tl;dr of this - this bug happens often and players don't even realise they are doing it many times, its easy to do this without meaning to do it on purpose as often its a natural instinct during combat to take cover etc. the game was never designed for multiplayer to begin. The only really effective way to deal with this would be if the vc-mp devs could implement some hit detection to prevent the bullets from glitching at odd angles.
Sooo in regards to both Zkq and Niko stop crying like a bunch of bambinos and settle down.
ALSO: On a more off topic note. Anyone who uses greenless mod who complains about wall glitching is a fucking hypocrit. I will be making sure over the next few weeks that no one will be able to use greenless mod on littlewhitey's so enjoy it whilst it lasts.
Regards x,
- Hanney