> I might just process it, flaws and all, and if someone asks, I will tell them it's a "Shapeless Nebula"
Yeah, :-)
No, really, I didn't mean to hold someone off to suggest specific image processing steps.
Yet I'm curious: what kind of scope are you using? Are there any filters, a reducer, flattener or whatever accessories in the light path?
The greenish blue color of the reflection suggests that it is produced by a coated lense surface, but I'm intrigued by its shape that strongly deviates from round or oval. In the meantime while I wrote this, Rob suggested this might be a "Schmidt ghost". I think he's right.
You can do an experiment in order to find out whether the reflection is centrosymmetric (in your image: to the middle of Alnitak and the reflection): take an image of the region (center exactly identical) with the camera rotated by about 120° clockwise. Then the reflection should be outside of the image or all at the edge.
Bernd