He didn't see you as a threat and didn't run not because of the noise or lack of, but rather he did not see you as danger.
Two things to keep in mind which have a bearing on the deer's lack of fear. First off, Jeff shoots a BowTech.

Second, this deer's seen him shoot before. [8D]
Sorry, Jeff. Just like a relaxed 10-pointer, feeding and standing broadside at 15 yards... The shot was just too good to pass up.