Hi ash,
Bony remodelling is usually due to irritation / chronic inflammation which stimulates ossification of the bone leading to a spur. I won't get into too much details about the processes. We could assume the irritation was your chronic ankle sprain, and that removal of the bony spur MAY not come back if the ankle is correctly managed post op. We could also assume you will have increased response to injury / mechanical strain due to hypersensitivity of the central and peripheral nervous systems following a chronic injury which will lead to aggravation post op and a return of the bony spur!

So, to answer your quesion... wait, I didn't answer your question. How about, possibly? If it were me I would weight up the pros and cons of surgery, factoring in the chance of reoccurance. Cost, rehab time etc. vs. quality of life, sporting ambitions etc.

Again, being an extremely active individual, if it was reducing my quality of life I would get another recommendation firstly.

First step, get another reccomendation (don''t just find 100 reccomendations until someone tells your what you want to hear though). Have you had any further reduction of symptoms in the last 2 months following your stretching and physio? What is your knee to wall on your injured side now? (I assume not much of an increase due to a structural limitation being the bony spur).

As a side note... conservative management will likely not be successful from the information provided. If surgery fails, you will likely just be in the same spot... ?? Food for thought.