Sure, venting can determine the sex of an Oscar, is it an easy procedure ? no way José. you cannot just do it by looking at the Oscars in the tank, I've tried it many a time when I actually know which is which and I cannot tell the difference between the two just by looking at their vents. I think it would be a case of removing them and using a magnifying glass.
the Oscars will have two holes right next to each other, one is the anus, the other is where their sexual organ is. this very basic diagram I have just knocked up will give you an idea. The female sexual organ is quite a bit bigger than the males, so her hole will be bigger than his.Having said this, when everything is tucked away the holes may not appear that different.
Personally, for the fish's sake, I wouldn't try to vent them unless it is absolutely necessary, Oscars do not like being removed from the tank and if you are not confident, you might end up dropping the fish