mmm, you know why it sucks? Because there was one more guy OTF
So, the CO probably folds 77, 66, 44, maybe even weak 8x. And hands like K
Jo probably just fold on the flop.
You need all these hands in your opponent's range to make this bluff easier. But now you are really in a tough spot. The standard play would be to give up here. But the bluff can be good if you're sure that he folds Tx.
The bluff is standard and good if your opponent has 77, 66, 44, and all 8x hands. It's not standard and becomes tricky if not.