Unless I'm mistaken, the witness does in fact enjoy the same privilege to avoid answering when the answer would be self-incriminatory? The american bar association has a whole article detailing under what circumstances it's appropriate, and how to handle it when examining a witness that suddenly takes the fifth. http://apps.americanbar.org/buslaw/blt/blt00may-shield.html
In fact, the very article you linked mentions that not only can a witness take the 5th, they are also allowed to do so selectively without giving up their right to testify on other matters. In that way they have more privileges than the accused while still posessing the same protections.
A witness can't just refuse to answer for just any reason, including fear of getting someone else in trouble, but that's how our justice system works for all people. Otherwise anyone could simply refuse to testify in someone's defense because of prior history, personal gain, or outside compulsion. Those types of things are an "obstruction of justice" as the term was really intended. (Meaning the person is willfully trying to avoid justice being served to another person through malicious action or inaction)
Additionally, without the compulsion to answer except under narrow circumstances, the ability to corrupt or threaten witnesses would become even simpler, since they wouldn't even need to claim duress and raise any alarm bells. In fact, most witnesses' self-interest would be best served by staying quiet, since speaking would put them at risk of retaliation, while simply claiming " I don't want to talk" means you're safe from everyone including, in theory, that dangerous criminal who's on trial.
In your example, Alice could reply with "I'm not sure" since she's only a suspected witness. She could safely claim to have been confused about what was going on, or have an unclear memory of what exactly happened, thus making her unsure whether "Bob did it". If they started to go down a path that might have something to do with her status as an accomplice, such as asking why she was on the scene, she could respond with "I plead the fifth" and refuse to answer that string of questions. She could also refuse to answer if they started asking her about prior drug use or some other unrelated crime.