Bloated, yellowing and transparent leaves are common signs of an overwater. The leaves can start to fall off really easily as well.
I'd get some new medium for it that favors drainage. There's a few different mixes you can use, but generally you want to have a decent amount of coarse material that will allow water to quickly drain. These plants suck up water fairly quickly, and don't like to have their roots wet for long. I personally use a store-bought cactus/succulent mix, and then I add coarse material to it (usually fine gravel or larger grain sand) to improve the drainage. A lot of gardeners like to entirely mix their own mediums too.
You should be okay to put it back in it's new medium (though someone with more experience can hopefully confirm which route is best). I'd check the roots and stem for potential rot (squishy dark spots), if there's rot beginning, it'll be a little trickier to recover it. Don't water it for a while. Leave the medium dry till it begins to recover.
Generally for most succulents, you only want to water them when the medium has completely dried out. When it's due, give it a deep water until water comes out of the bottom of the pot, making sure the water actually penetrates through the soil. That'll keep it covered for quite a while. Most of my succulents are watered every few weeks. I often wait till I see signs of needing water, rather than watering on a schedule to be on the safe side. When in doubt, water less than more. These plants can handle less water far better than more water.