Dr. Crockett,
 
Other than the obvious concern of having a source of an oxidizer such as oxygen near ignition sources and the risk of fire danger, here are some medical considerations:
 
Why is the student receiving oxygen treatment?  By what route, specifically what type of device -- an oxygen concentrator?  An oxygen tank with  nasal prongs?  and what size and totoal capacity?  and in what concentration(s)?
 
This also brings up the issues of potential medical exacerbations of the underlying condition  if irritant or systemically toxic chemcals (or simple asphyxiant chemicals/gases/vapors) may be  present in the lab.
 
I really wouldn't expect any particular problems in the lecture  hall/classroom unless live chemical demonstrations are done there, particularly those involving use of open flames and the types of chemical mentioned above.
 
It would be well to consult with the student's treating physician(s) and perhaps with your regional poison control center (find the national 800 number inside the cover of any phone book) and discuss with them what types of chemicals may be used in the lab and get their recommendations as well.  The Americans with Disabilities Act does require "reasonable accommodations" to be made, but check with your college's legal counsel to determine what is "reasonable" and when the disability may make the lab unsafe for the student or fellow studentsand faculty   (this from the father of a disabled daughter who teaches science iincluding chemistry at the junior high and high school levels and is also a special education-certified teacher).
 
These are a few brief thoughts.
 
Alan
Alan H. Hall, M.D.
Toxicology Consulting and Medical Translating Services
Laramie, WY
Colorado School of Public Health
University of Colorado-Denver
Denver, CO