Sure looks like he's got a mouth full of eggs or babies. I had a pair of Bangiis that bred. I even actually saw the male spit out a mouthful of babies.......then suck em back in.
The next time I saw him the mouth was empty and no babies swimming around anywhere. I'm assuming that the babies came out, only to have every other fish in my tank swoop in and eat em. I should have isolated them, but I didn't.
But yours has the puffy mouth just like mine did. So he's probably got something in there. Hope yours works out better than mine did.