wow ive never heard of anything like that. i can see in the picture that the bulge is quite large. as i read further on, i red the part where the one guy suggested it could be a torn muscle in the swim bladder. and although i am by no means an expert and ive never even heard of that, it sounds like thats the case. that would explain the lack of balance of the oscar, and why it rises up when its upside down. if thats the case, i dont think theres much you could do. maybe talk to a vet and see what they could suggest to you? i cant imagine how much surgery would cost, so dont feel bad if you dont go through if thats the only option.
although your picture is small, i can see some very nice coloration on that o.