It’s most likely just a surface capillary that has burst so it’s just like any old bruise. Whenever this happens you just have to take action right away. Get some ice on the area, it’s uncomfortable but it helps, and alternate that with rubbing the skin between your thumb and index finger. If you do that for a while and come back to it 2-3 times during the day (or the next day if you PE at night) the bruise will generally be gone within 24 hours. You can start back on PE the next day, you just ave to keep it light and stick mainly to jelqing. And yes, you have to be more patient; almost all injuries like these are due to doing too much too soon.
2010-01-09: BPEL: 19,7cm [7.75"] EG: 15,0 cm [5.9"]
2010-04-24: BPEL: 20,4cm [8.0"] EG: [???]