A:AnswerI can't positively say it will for sure work with your TV. Never had an Olivia tv. But the odds are very high that it will. The wall mounting companies are very good at providing mounting holes in the right spots for the size of TVs they specify.
A:AnswerThe box it comes in states specifically how much weight it can take. I don't have that box anymore, and I'm away from Florida right now, but I believe it's up to 50 pounds or so. I owned an Olevia/Syntax (since gone to its heavenly reward), and it would have been MUCH too heavy for this mount.
A:AnswerThere is an allen key screw that goes into a pin where the TV mount affixes to the mount arm. It is relatively easy to remove, I say this as I do not know the weight of your TV, but with the screw removed the TV will still remain mounted.