I'm at Mandalay Bay liveblogging for Alibi.com in Albuquerque. Here's my post on what transpired in the staredown:
According to a Brazilian journalist I met in the press room, here is what transpired during the heated exchange following their epic staredown.
These are my journalist friend's translations:
Silva: "You're fucked. I'm going to fill you with strikes."
Belfort: "Come get some." (literal trans: "come in.")