In general, the view of the compass makers is that a small bubble certainly doesn't harm the functionality of the compass and is fairly common in liquid-filled compasses, especially in very cold weather.

Still, at least with higher end compasses, if the bubble gets large enough to bother you, or interfere with the movement of the compass needle, most of the companies will repair the compass at little cost, or more likely no cost.

I've had to send a few compasses into Brunton for various repairs, and they've always been very good to me. I would assume Suunto would be similar, though I'm not sure where you'd need to send the compass (to Europe?).

BTW, from what I understand, the liquid is something similar to mineral oil - maybe with some anti-static agents added.

Ken