Although an odd choice of wood for fittings, olivewood theoretically could make partial sense seeing as its density is close to that of Ebony with the primary dicerning characteristic being its non uniform grain structure. Then large presence of naturally occuring oils within the wood could (in theory) also server as a natural lubricante for pegs, not to mention the fact this wood is not "acidic" and could possibly be hypoalergenic?
Listing with fittings such as these have caught my eye http://www.ebay.co.uk/itm/151004609334?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649
these same suppliers seem to make matching pegs and normal hill style olivewood tailpieces of also, any insight on the usage of this wood for fittings?