The explosive burst which occurs when a fully inflated and stretched balloon is pierced by a pin is due to the faster expansion of the breaking hole or faster relaxing of the stretched parts of the balloon at the place where pin prick is made. That is, it is the elastic or latex travelling back to position from its stretched unstable position due to the tensile limit,faster than the speed of sound of the air(waves) going out, at the pin hole. This is akin to the boom or explosive sound created by Supersonic planes