Try to get to a knowledgable herp vet ASAP. You can try to shrink it with the sugar water but it needs to be a high concentration of sugar. You can do this by boiling water then adding sugar to make a concentrated solution. Then you will have to cool it down until it is cool to the touch. Then...
Agree that's its hard to tell but I think it's a prolapsed hemipene. Either way you need to get to a good reptile vet ASAP. Keep it clean and apply ky jelly to it to keep it moist until you get to the vet but don't delay.
Updated Pictures
I finally found some time to get some updated pictures of my Parsonii. Its late so I'll post a few tonight and more over the next week. The first two are of Titan and the second two of Athenos, aka Athena when I was hoping he was a female!