High resolution observations from the Swedish 1-m Solar Telescope revealed bright, discrete, blob-like structures (which we refer to as solar bullets) in the Hα 656.28 nm line core that appear to propagate laterally across the solar atmosphere as clusters in active regions (ARs). These small-scale structures appear to be field aligned and many bullets become triggered simultaneously and traverse collectively as a cluster. Here, we conduct a follow-up study on these rapidly evolving structures with coincident observations from the Solar Dynamics Observatory/Atmospheric Imaging Assembly. With the co-aligned data sets, we reveal (a) an evolving multithermal structure in the bullet cluster ranging from chromospheric to at least transition region temperatures, (b) evidence for cascade-like behavior and corresponding bidirectional motions in bullets within the cluster, which indicate that there is a common source of the initial instability leading to bullet formation, and (c) a direct relationship between co-incident bullet velocities observed in Hα and He ii 30.4 nm and an inverse relationship with respect to bullet intensity in these channels. We find evidence supporting that bullets are typically composed of a cooler, higher density core detectable in Hα with a less dense, hotter, and fainter co-moving outer sheath. Bullets unequivocally demonstrate the finely structured nature of the AR corona. We have no clear evidence for bullets being associated with locally heated (or cooled), fast flowing plasma. Fast MHD pulses (such as solitons) could best describe the dynamic properties of bullets whereas the presence of a multithermal structure is new.