Unfortunately, removing the Oracle functions from the report and replacing them with native Cognos functions is not a practical solution as this FM model is likely used in hundreds, if not thousands, of reports which may have similar Oracle functions. I agree that it is not best practice to have vendor specific functions in the Presentation Layer, but this report long pre-dates me at this company.
Therefore, in looking into this further, I was able to resolve the issue by restoring to a previous version of the model (luckily, we save in BitBucket) and then remake the changes I made in Framework Manager in a better manner.
It is likely that I either had added circular or cross join functionality that I didn't want (it's a single huge messy model where a simple error can have big consequences).
My presumption is that Cognos was throwing this error when it was forced to do queries in the Presentation Layer (local processing) rather than returning queries to the database, thus the failure of the Oracle functions.
In any case, the FM model is now working as expected, testing of a number of reports has not compromised them, and the new functionality added via the model is working as expected.
Thanks for your help,
Adam.