The one on his belly isn't going to be a problem. The one near the top of his front right leg (upper arm/shoulder area) MIGHT become a problem for him if it gets larger, as it might start affecting that joint. It's about 3 inches in diameter currently.

Do we wait and see if it becomes a problem, or do we have it done now while it is still small enough not to be bothering him?
And if we DO have that one removed, should we have the one on his belly removed at the same time?

Right now we're leaning towards leaving them alone, based on your responses so far. But we want to do what is BEST for Oreo over time, and if the one has potential for causing problems for him in the future, wouldn't it be best to have it removed now, before it gets any larger?