When you look at the jtnew.bst (which is the file specifying the styling of the bibliography), you'll find e.g. the following
FUNCTION {bbl.edition}
{ "ed." }
This tells BibteX what it should print when you need an "edition". Change that into
FUNCTION {bbl.edition}
{ "edition" }
And you get the change "ed." -> "edition".
You do the analogous thing for the volume:
FUNCTION {bbl.volume}
{ "vol." }
becomes
FUNCTION {bbl.volume}
{ "volume" }
Øksendal can be written in a few ways. You either have Unicode support (by using XeTeX, LuaTeX or input encoding settings), but BibTeX is not really Unicode aware, so you would have to use BibTeXu (which I never tried).
The other way is to simply write {\O}ksendal
.
jtbnew.bst
?