I'm wondering about how is his vision overall...both his actual acuity, plus the 'behavioral optomitrist' stuff of getting his eye pointing muscles to work properly.
Is your son willing to listen to audiobooks at a much higher level? Is he willing to listen to you read denser books? Has he read the Harry Potter series, for example? Eragon? It may be that he's interested in a much 'juicier' level of book,but has something physical going on with his eyes that makes reading challenging. Does your library stock many 'Large Print' books that he might find interesting?
I would follow up in various directions - if the teacher notices that he is distracted in class then he might be underplaced or have an attention issue, or some other problem, but whatever is causing it, the question that worries me is: "Is he learning to engage with learning at the level that is reasonable to expect from a child of his age?" It takes years of practice to develop a good emotional strength to carry one over the challenge of learning 'non-instantly' yes? Why shouldn't your son get to start those years now?
Love and More Love,
Grinity