Thanks for this report and sample image.
The ImageProcessingIFD entry in question does indeed contain an invalid offset, but this is a "minor" error since it is in the maker notes. You can use the -m option to ignore minor errors, which will allow you to write the image. When you do this, the erroneous entry in the ImageProcessingIFD is deleted, but all other valid information should be maintained.
Give this a try and see if any of your Olympus utilities have problems with the image after doing this. I suspect that they won't care about this entry since it was invalid anyway.
- Phil