Oh, Hermione's definitely thinking about how screwed she might be. Luckily, this hadn't happened a few months before, or else she would have been just as likely to attack Bull on suspicion that he was a Snatcher as she would have run away because clearly he was working with Voldemort. Both would have been terribly presumptuous and flat-out rude of her (and possibly would have seen to it that she'd end up on the wrong end of his axe), so while there's no such thing as an ideal time to be whisked away to another world, this is certainly a better time.

She stops when he does, pondering over his response and realizing that it doesn't really answer any of her questions. "But are the mages working with the demons? I can't imagine wanting to be possessed, so it doesn't sound as though they're at fault..."

Hearing about the Circles makes her blink up at Bull, as it had almost sounded like the arrangement the wizarding community has with Hogwarts until she picks up on some sort of subtext. She fervently hopes that he'd just phrased something about that whole thing in a less than ideal way. "Wait-... when you say that children are sent away to learn magic, do you mean that they're kept there? Surely not forever, though? We have holidays at Hogwarts where we can go back home to our families, and after we graduate we-.... And aren't templars knights?" She knows Muggle schools have security guards, but that sounds a little ridiculous.