Bubbles in your radiator is not a good thing. What was going on at the time is important though.
Was it just a couple of small bubbles or were they big bubbles that just kept coming?
Was the engine hot at the time?
Was the radiator full?
I recommend you start over with the basics. Start with the most basic first.
Check to make sure the radiator hoses are OK (you can even do that before replacing the thermostat). With the engine at operating temperature, make sure neither of the hoses have collapsed. It doesn't sound like that is what your problem is but check anyway.
Take the VX to a radiator shop & get the radiator flushed & pressure tested. They'll should be able to spot any potential problems if there are any.
Most often the thermostat is the problem. Even though it was just replaced, do it again & get an OEM replacement from Isuzu (they are almost always better than the aftermarket ones from the box stores).