Wheybolic 60 is a hydrolyzed/isolate protein.
OxyElitePro like anything will assist in your weight loss, but remember you diet and training routine will be the biggest factors.
How most and I would run this supplement is for post-workout since it is very fast digesting. It will help with building and maintaining muscle.
I would not recommend taking this as meal replacement since it will digest too fast and it is very expensive.
I suggest looking into MRPs such as Elite 12 Hour MRP. There are many others. For a meal replacement you want a blend of protein and not pure isolate.
Hope that helps bro!