Hi,, although your tumor appears to be small,, and I am not a Dr.. you are experiencing considerable amount of symptoms.. hearing loss, in my opinion, is not the only symptom to be concerned about. I had about 90% of my hearing on that side when I went into surgery about 4 mo. ago.. I did have balance issues, nausea, tinnitus (the ringing type noise in that ear), and headaches, dizziness, etc etc.... mine had extended from the IAC, auditory canal,, into CPA and was pressing on the brain stem,, which can lead to very dangerous conditions.. so it was time for me after three years of w&w to seek treatment.
I would suggest that you/ your parents have your MRI sent out to House Clinic in Los Angeles (HEI.org) for a free consultation by phone , no obligations,, I did and found it to be very valuable info as far as second opinion. , and I did not go out there for the surgery. There are also other places that will review your MRI and consult with you..
Risks from any of the treatment varies in each situation including w&w.. so that is hard to explain.. this is very serious surgery to put it mildly,, and sometimes radiation is recommended which is less "invasive",, but I think you definitely need another opinion based on symptoms you are experiencing.. that is one reason I transitioned from w&w to surgery is due to fact it grew over time and was causing symptoms I could not function well in daily life.. just some thoughts to ponder,, good luck and keep us informed,,