What Happened to my Neck?

So I have had this music man since about 2010. I recently had some events happen in life that required me to put the guitar down for a couple years. Unfortunately that meant the JP6 had to sit in its case for about two years.

I got her out of her case a couple days ago and noticed the neck had a buldge in it.

It looks almost like its the truss Rod that pushing up against the wood. Really bizarre because the relief in the neck is perfect to my eyes. (I hold a finger on the first fret and one on the 24th and check the play on the 12th) In that context, usually this would only happen if it had an extreme bow one way or the other, no?

So my question is can this be fixed? Do I have to replace it? Should I be worried?