I'd be interested in seeing a close-up pic of the bolster. If the 'orange peel' on the bolster is actually some kind of coating (varnish), then I'd think some very mild, but relatively coarse abrasive (like baking soda) might be something I'd try. The idea being, hopefully the baking soda is hard enough to scrub off the coating, but not hard enough to scratch the nickel. OR, as you've suggested yourself, some solvent might be used (I also thought about mineral spirits for this). With the solvent, I'd apply it sparingly with a Q-tip, and let it soak for a bit (15 to 30 minutes, perhaps). Then scrub a bit with a toothbrush or something similar. I'd try this first, as it's least likely to damage anything, whether it works or not.
If the orange peel is the result of pitting by corrrosion, then I'd consider using some very high grit wet/dry sandpaper (1000 grit or so) to sand/buff it out, UNLESS you're absolutely dead-set against altering the finish. Since one bolster is already mirrored, as you say, I don't think I'd (personally) be too worried about using the sandpaper to do the same to the other. Polishing the nickel with the sandpaper is very easy & fast, as the nickel is quite soft. It comes down to deciding if your priority is to keep the knife in 'original' (as found) condition, for collector value, or if you just want it to look relatively pristine again.
I'd bet that whichever it is, coated or pitted, at least SOME alteration of the finish will result, however you go about it. Especially if the polishing paste (Flitz) hasn't fixed the issue. That suggests to me, that something more aggressive is needed. I would've assumed Flitz would remove any varnish or other coating that might've been there. Most polishing pastes come with specific warnings about not using them on lacqered finishes for this reason (it removes the lacquer).