Just my opinion here, for what it's worth. Is it possible he's run into something during the stall building? I don't wrap to keep swelling down usually, because I use that to monitor what's happening. Just hose down a leg with cold water to bring swelling down or in the case of suspected wire or nail type injury, stick the whole leg in a bucket of warm water and epson salts for awhile.
If it swells more, check to see that it's not some kind of punture wound, in which case it needs to be kept open so that it will heal from the inside.
Hmmm.... I don't ~think~ he did this related to the stall building, their area was kept clean and there isn't any protruding nails or wire around. If he had done it while turned out in the back forty where it's rough and tangled, I'd think he snagged it on something, but the pasture he's been in is clean and obstacle free, that is why I am thinking he kicked and struck himself in some display intended for the ladies.
I can unwrap it if you don't think it's helpful. Should I Bute him again? and if so, when?