Holloway was seething after Plymouth lost 2-1 at West Bromwich Albion when he turned his ire on referee Mike Thorpe.
This time it was referee Steve Bennett who had Holloway hot under the collar.
Holloway was fuming that Bennett awarded Wolves a 69th minute free-kick when he ruled that Lilian Nalis had fouled Karl Henry.
He erupted on the touchline and his anger intensified when, from the quickly taken free-kick, Rob Edwards fed Michael McIndoe and his cross was headed home by Olofinjana.
Olofinjana''s goal was no more than Wolves deserved for an improved second-half display.
But they needed more than a point to boost their fading promotion bid as they have now won just once at home in their last nine games.
Without a vastly improved display in the second period they would have crashed to a damaging defeat as first-half goals from debutant Krisztian Timar and Scott Sinclair, either side of an equaliser from Stephen Ward, had put Plymouth in control.
Plymouth have now lost just twice in 10 games. But, even with Holloway fuming about Olofinjana's goal, they were somewhat fortunate to take a point.
Ward should have done better when he was denied by goalkeeper Luke McCormick while Timar headed off the line from McIndoe before, in a frantic finish, Plymouth were denied themselves when Matt Murray saved from Dan Gosling.
After a low-key opening, the game exploded into life with three goals in just nine minutes.
Sinclair, who scored a wonder goal against Barnet in the FA Cup last weekend, caught the eye again with his 27th minute finish.
He capitalised when Mark Little, who has endured a torrid week after being tormented by Jason Koumas and Darren Huckerby in the previous two games, was caught out of position.
Rory Fallon fed Sinclair who cut in to the gap left by Little before drilling a low drive past Matt Murray.
Only the width of the post prevented Plymouth from doubling their advantage when Kevin Summerfield rattled the woodwork with a 25-yard drive in the 33rd minute.
Wolves capitalised fully on the let-off seconds later. Jamie Clapham's headed clearance was collected by Andy Keogh who raced into the area before crossing for Ward to fire home from 12 yards.
Having got back on level terms so quickly, Wolves made the terrible error of handing the advantage back to Plymouth only three minutes later.
When Gary Sawyer whipped in a left-wing free-kick, Wolves left Timar unmarked at the near post and he flicked the ball home despite the best efforts of Clapham to clear the ball off the line.