If fluid is leaking its a problem. Lets not be naive, he had this happen last year and the team was guarding his condition.
Back problems as those know can be depressing and he is dealing with his brothers death which will be with him for some time.
10 years ago I had the occurrence of two ruptured discs in my neck. A residual injury from when I broke my neck in college PLAYING BASKETBALL!
I have a great neurosurgeon (not an orthopedist. Those guys ALWAYS want to operate!) who suggested we wait. I was borderline with no clear evidence either way as to operate or not. I choose to wait, but fully aware I could need surgery. It worked.
Amare no doubt will have the best care and options at his finger tips. We are not talking about just any person, we are talking about a 20 million dollar a year employee whose explosive athletic ability is his key asset. Since the true nature of his condition has been not shared with the public, or season ticket holders I doubt we get insight to the real issues.
As others alluded, it takes a long time for the material to dissipate and I suspect last year everything was done non-surgical. A bulge is not big deal and if we all took MRI's we might find many of us have them. Most of them are not problematic. Its when it becomes structurally unstable. My guess is surgery to remove the material but I doubt they fuse as that might inhibit performance.
If he has surgery Im sure it will be conservative but it might not be the cure. The guy seems to recover fast and he is still young. I going to guess he gets shut down and will have a procedure. This is not an exact science here. Don't look to "blame" if it does not pan out in the fans favor. There is now way to know how the body responds. All of these situations are different.