Olympus EM10 Raw conversion for Lightroom

Everything here looks normal. The differences you see are due to different color profiles being used by Olympus and by Adobe, and different default settings. In some weeks Adobe will fully support the E-M10 and then there will be an option to use a "Camera Vivid" profile (in the Calibration box in LR), which will get you closer to the Olympus output. I assume that iAuto translates to the picture mode iEnhance, and that's pretty hard to reproduce by 3rd party converters. The Vivid/Normal/Portrait are easier, using the corresponding color profiles.