You can download 2 samples from
http://mitago.net/tmp/Olympus_E500.orf
http://mitago.net/tmp/Olympus_E510.orf
And yes, it looks like an exiv2 problem, so if you prefer you may forward the bug
$exiv2 -pp Olympus_E500.orf
Olympus_E500.orf Preview 1: image/jpeg, 160x120 pixels, 10167 bytes
Olympus_E500.orf Preview 2: image/jpeg, 160x120 pixels, 10167 bytes
^^^^
No big preview
$exiv2 -pp Olympus_E500.orf
Olympus_E510.orf Preview 1: image/jpeg, 160x120 pixels, 8295 bytes
Olympus_E510.orf Preview 2: image/jpeg, 1600x1200 pixels, 394571 bytes
If I try with exiftool, it shows the correct ones
$ exiftool Olympus_E500.orf | grep Preview
Preview Image Valid : Yes
Preview Image Start : 24576
Preview Image Length : 417457
Preview Image : (Binary data 417457 bytes, use -b option to extract)
$ exiftool Olympus_E510.orf | grep Preview
Preview Image Valid : Yes
Preview Image Start : 24576
Preview Image Length : 394571
Preview Image : (Binary data 394571 bytes, use -b option to extract)
Thanks in advance