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I've trained myself to go right to extra-base hits and walks (I actually took three semesters of stats, but I haven't taken the time to figure out wOBA). 
Anyway, 2006 and 2008 just freaked me out: 452 PAs, 9 walks at age 27; then 317 PAs, 7 walks at age 29.  This was after he had become a good hitter after escaping his Safeco house of horrors.
OPS+ was OK, but it looked like it was based on occasional power and lots of rally-killing Ks and fly outs.
I kind of glossed over 2010, but it does seem that he made some significant improvement in terms of walk rate and overall approach.  At the same time, it seems to have been pretty much limited to the first half.
Absolutely, first-half 2010 Olivo is a player to be real excited about.  Did you notice had FIVE TRIPLES in the first half?  5 triples, 11 HR and 20 walks in 253 PAs (.325/.377/.548).  That's All-Star from a non-catcher.  But second half it all evaporated; only 13 more XBH and 7 more BB.
The theory that he wore out is plausible, but he actually had his spike of walks in 09 in the second half -- 16 of his 19 walks were after he'd already started 60-some games behind the plate.
If you take the 2nd half of 09 and the 1st half of 10, you've got a superstar catcher; 111 games caught -- 14 dbl, 8 tpl, 21 HR, 36 walks.  Don't know what to make of that, but it's intriguing.