Spike chaser lost to Habaya in the video, just like it does to any other multi-instance projectile. The projectiles traded, Chaser became null, and Habaya refreshed itself.
It simply looks like it keeps going because projectile animations don't just evaporate. Else things like Dead Spike would just have an eye-jarring cut over the course of one frame once they become nullified.
Habaya is still active in the example after trading with Chaser, and would hit Nu if she was to collide with it, the same is not true if Mu had happened to walk into the remnant of Chaser's animation.
As I stated above, Spike Chaser was in fact nullified by Habaya. In the parameters of DiaNu/Mu, the matchup will have all of the same projectile calculations.