Never had experience w/ this, but I'd put hot compress on it for several minutes few times a day, clean area, coat w/ neosporin & separate her from flock if anybody seems to be picking at it. Might be able to open the end & get the feather out as described below if it doesn't improve on its own in a ew days: (all i could find any detail in was small pet birds/parrots, but same idea, I guess?
How Should I Deal With A Bleeding Pin Feather ?
Pin feathers bleed when they are damaged. This occurs, most often when new feathers replaced clipped ones of the birds wing. In a natural molt, mature feathers protect the erupting pin feather from damage as the bird flaps its wings. But when the wing is clipped, the new feather is unprotected and often becomes crimped or damaged. Bleeding feathers also occur when the parrots chews on their feathers as a way of relieving stress and boredom.
Damaged pin feathers will not heal on their own. They will continue to bleed when they are moved or disturbed. So you need to pulled or plucked out the damaged pin feather or bring it to a veterinarian or experienced aviculturalist if the task is beyond your abilities. Removing the damaged feather can be quite painful to the bird if it is not done quickly and purposefully. If you are squeamish about it, let someone with more experience do it.
Here is what you should do or have done:
1) Your parrot needs to be restrained in such a way that it cannot bite or claw you but in a way that allows it to breath freely.
2) With forceps (hemostats) or some other grasping instrument, the feather needs to be grasped as close to the birds skin as possible and then plucked out. Tweezers are unsuitable except for the smallest birds.
3) Hold pressure on the area for a minute or two after extracting the damaged feather shaft to allow time for clotting to occur.
*** A link:
http://poultrycommunity.com/forum/showthread.php?2623-Feather-cyst
***A different piece of info on topic:
Q: I have adopted a 3 year old male Blue-Crowned Conure. He wasn't treated well by his previous three owners and was nervous and missing a lot of feathers when I got him. His feathers have all grown back in, and he has been very healthy, according to our vet, but tonight when I was cuddling him, I noticed what looks like a cyst. It is about the size and shape of a pencil eraser. It is behind his right wing, on his back. It feels hard, but I have not noticed him picking at that area, and he did not squack at me when I examined it and touched it. He is getting his winter feathers in. My husband says it looks like an ingrown folicle, but since we have never had a large bird before, we aren't sure. Our vet is out of town for a while, and we need to know if this warrants a trip to a new vet. Please help advise if you can!! Thank you.
A: It sounds like it could be a ingrown feather follicle. Obviously I would recommend getting it checked out. Whether it is an emergency is really up you. - Dr. Lonnie Kasman
A: No need to rush to the new vet as long as the bird is not picking at the site. You do need to set up an appointment with your regular vets as this could be an "ingrown" follicle and likely needs some attention. Good luck - Judy St. Leger, DVM
Hope this helps. I'd definitely remove from flock, do compress, clean w/ 50% peroxide solution & slather w/ neosporin if it were me.