Cold hose, cold hose, cold hose!!!! You can cause permanent damage to that hock with all that swelling, it can be more detrimental to your horse than the injury or the infection. You should cold hose the joint for 15 to 20 minutes at a time. She's also probably not moving around much so taking her on short grazing-walks is a good idea to get some of the swelling out too, but not too far or long because it will be uncomfortable but it's the only way to get some of that swelling moving. You should also be putting standing wraps on BOTH hind legs to prevent the swelling from dropping down into her lower leg and to support the leg that's taking on the extra load from the injured leg so she doesn't hurt that leg from overuse.
As for the cuts themselves, oozing isn't necessarily a bad thing, do not over clean the wound you can destroy the healing tissue. If what is oozing is indeed whitish and thick she needs antibiotics so that the infection doesn't spread to the joint or bone. If what is oozing is clear and yellowy it is GOOD let it ooze, let it crust, that means it is healing and cleaning it away 5 times a day is actually leaving the wounds unprotected and open for infection. You should also be cleaning with nalvasan scrub it isn't as damaging as some of the other scrubs but don't overuse it, all of these antibacterial scrubs are chemicals and can do as much damage as good and can actually slow down the healing process. If the wound is in fact pussing not just oozing, cut down to cleaning 2 times a day, cold hosing the rest of the time should be enough to keep the wounds clean.
Bute is good, make sure you are giving enough to make your horse comfortable, and that you are giving it with food, Bute can cause stomach problems with long term use and it sounds like she might need to be on it for a while.
She does need to see a vet, whether or not the wounds are infected because with wounds like that you are at risk of things like proud flesh, the wound closing improperly, or even scar tissue/scarring that could cause restricted motion of the joint if they're as deep as they look/sound and are as close to the joint as they look. The vet might also have better suggestions to get rid of the swelling around the joint (which to me would be my BIGGEST concern).
Sorry I wrote a novel but I hope this helps!