What is the likelihood of having an allergic reaction to dissolvable sutures and what are the options for rectifying? (Photo)

You have a suture granuloma on the lid.  This will occur at times where the internal sutures create more inflammation than normal and you get an inflammed nodule.  The treatment is antibiotics and warm compresses.  Sometimes the suture will extrude, but more often it will just dissolve as the inflammation resolves.  It will not affect your final result.      

Why are you waiting a week to see the operative surgeon??? You need immediate attention for this issue....////

Dissolvable stitches dissolve at variable rates depending on type and the half life of the stitch used. It sounds like your internal stitches are dissolving and unfortunately the area is inflammed following this. Taking the antibiotics should be sufficient and as long as there are no change in symptoms I would wait for things to settle. There is no reason for this to affect the outcome. It sounds like you are getting good advice and follow up.