Bishoo's guile and accuracy on a helpful surface at the Windsor Park Stadium in Dominica accounted for Steve Smith, Shane Watson and Brad Haddin in quick succession, keeping the home side very much in contention after the tourists started the day at 85 for three.
Australia had been intent on building a potentially match-winning lead in what is shaping up as a low-scoring contest, and while wickets tumbled at one end, Adam Voges held firm.
The seventh-wicket pair put on 27 runs and with the Australian lower-order noted for occasionally making useful contributions, the tourists may still remain hopeful of eking out a useful first-innings advantage in the afternoon.
Having claimed the important scalp of captain Michael Clarke late on the first day, Bishoo was at it again on the second morning, undaunted by the efforts of his opponents to unsettle him through attacking strokeplay.
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Smith, with centuries in each of his previous four Test matches, launched the leggie back overhead for four but was then stumped for 25 later in the same over attempting to repeat the shot.
But the best from Bishoo was still to come.
Haddin hoisted a six over long-on only to be completely mesmerised a couple of balls later by a delivery reminiscent of Shane Warne's celebrated 'Ball of the Century' for Australia against Mike Gatting of England in Manchester exactly 22 years ago to the day.
Looking to play a delivery pitched fractionally outside leg-stump, the wicketkeeper-batsman was left bemused as the ball spun across him to clip the top off the off-stump, triggering celebrations among the West Indians on the field and the Dominican fans in the stands delighted with their team's determined effort.