A lot of cheap sets fit sub-standard electrolytics, so failure is common - first off, change the swollen one and see what happens. If you've got an ESR meter you could check it, and the others as well - if not just change the swollen one.
Also a large failure on cheaper sets is LED's, and you can usually buy kits of the correct strips of LED's to replace them. However, disassembling an LCD panel isn't trivial, and it's VERY easy to make a catastrophic error and destroy the panel completely. Probably the larger failure of any LED's is in the badly designed LG panels, which they also sell to many other manufacturers - basically they cheapened the manufacturing until the panels are no longer capable of doing their job. However, your set doesn't sound like it uses an LG panel, as that's not their usual failure mode.
If you do decide to disassemble the panel?, take it slowly and carefully - study it extensively first, particularly how it's put together, and in what order - most disasters come from disassembling in what looks an easier way, but isn't actually so. The same applies when putting it back together as well.