I think that your diagnosis is correct Matt. The camera fires fine with the lens removed (mirror goes up and comes back down as expected).
The lens seems to be working fine on its own too (just to check - when changing through the aperture - the blades should only show when the DOF preview is pressed right?)
When the camera is reassembled though - once the shutter release is pressed - the aperture ring sticks at about f4 (regardless if the aperture is set below that at 1.8 or 2.8) and only finishes the exposure by either pressing the DOF preview or switching the mirror lock.
The camera appears to fire as normal if the DOF button is held as I press the shutter release.
My question is this - will this DOF workaround do me until I finish this job and can get it to a repair shop next week? I would meter my shots as normal and then only hold the DOF button just before I press the shutter release.
Yes, the aperture on an Olympus OM lens should be full-open with the lens off the camera until the DOF button is pressed. When the shutter is fired on an OM, a lever at the viewer's right side of the lens mount moves up to push a lever on the lens mount, stopping down the lens. When the mirror comes back down, the camera lever comes back down. If the camera lever is prevented from moving down freely, the mirror will not come down.
On the lens, if you set the aperture to an intermediate stop like say f/8, you can test whether the lens stop-down lever (the one on the rear of the lens mount, not the DOF preview button) is moving freely by moving it with your finger.
My guess is that one or both of these levers are bent (possibly from mounting/dismounting the lens hastily), causing drag that prevents full actuation of the aperture until you force it with the DOF button. Or maybe your aperture is extremely sticky, but then the DOF button probably wouldn't stop it all the way down.
Pressing the DOF button before exposure shouldn't hurt the mechanism. However, a suggestion for the future: Photo gear is relatively inexpensive now, compared to your time. If you're going to do a job (especially on an island) you should bring a backup, eg a second body and second lens.