From what I've read Leroy some of the oil naturally seperates like what you've seen, majority stays in the algae. Smashing the algae, running it through a press like you would with other veggies to squeeze their oil out, seems to be the most efficient way to get all the oil. By doing this you create the oil byproduct which is a form of veggy oil, and the solid waste. I don't know how the viscosity of it compares to regular veggy oil.
All forms of algae create the oil, the spirulina strain just has the highest concentration. It's also easier to grow because of the ph levels it can survive in, kills the bacteria and everything else that can 'ruin' the algae. Nice thing is this strain is common because health nuts found out it's a 'super food'.