I have no idea why the pinholes. I looked at the samples that were sent me and they looked very much like separation of emulsion from the base, resulting in a kind of horseshoe look, varying slightly in size. I have actually seen this kind of look in my carbon printing when, during development the emulsion lifts from the support and breaks, falling back on itself. I suspect, but can not be sure, is that the cause in this case is the same.
When I repeated the tests with the film that Eric and Brad sent me I did not get any pinholes.
My suspicion is that the emulsion itself is releasing some gases, that in combination with the specific conditions of development, cause bubbles which then break. I looked on the Ilford forum and saw several other related reports of this problem with other Ilford films and another developer.
Since this problem is clearly very rare, and is not limited to the specific combination of HP5+ and one of the Pyrocats, I don't look for an early solution. I think Brad concluded, based on the fact that he had the problem with HP5+ and Pyrocat, and not with D76, that the problem was developer related. That could be the case, but based on the fact that there is a large base of HP5+ and Pyrocat users who are not experiencing the problem, it seems to me more of a specific condition issue than an issue of film/developer.
Sandy