Paradoxe

Well, I give. Without any reasonable clues, I don't even know where to start.

EDIT: GAHm I've been working with this using spacing.

Again this pair: COCN BCNO is the problem. I can't find two words that work for that.

Vertical alignment does not work. Pity though, some interesting words came up.

Well, I've run it through a cryptogram solver and it didn't come up with anything. :/

One of the big problems being this pair:

COCNB XBCNO

For example, letting COCNB = Every makes XBCNO = ?YERV