A true albino will have red eyes and no coloration besides white and pink on the body. The orange markings in Oscar's is not a skin coloration, it's from light reflection off the skin.
The rest of the "White" colored Oscar's are Lutino. They can have black eyes and color on the body fins.
Now I have not raised a true albino myself so I can't comment on that. I did raise a Lutino to 12 inches before I gave her to a fellow MFKer who had the proper water for her to thrive in. As my water was liquid rock. Total dissolved solids well over 300 and PH in the 7.8 to 8.2 range.
I had no problems with her save the missing nostril. I didn't notice when I got her at less than one inch in size. Became apparent later on.
The day I got her
Here you can see the missing nostril. It never really effected her save once, she got what seemed like a infection in the side with no nostril, but it cleared up in a week on it's own.
Here you can see the lump from the infection I am guessing she had.
Here she is at 12in. Had no problems with her at all after that one infection that solved itself.
And a couple years later at 14in