The enabling Geometry Velocity blur is only relevant for rendering. The issue here has more to do with the fluid stamping particles. Personally I have had inconsistent results with using the fluid source motion blur on particles. I suspect it has to do with the changing point count and not having control over what attribute to use, such as id. The motion blur works much better on actual geometry. There are some issues that are worth noting when using the fluid source motion blur, the main issue is that it doesn't blur the velocity channel as well. So you can end up with a nice looking density source, but the velocity looks the same as density without motion blur.
Typically when I am doing something fast moving and I won't use the motion blur on the fluid source, I prefer to use a trail with the "preserve original" result. This gives me more control over the trail look, and I don't have to deal with lack of velocity blur when I use the fluid source node.