I have LR 5.7 and PS 13 and both are unable to recognize these files. The LR can not give me thumbnails and if I click on one to import, it relates it can not open that format. I contacted Olympus and their only reply was to upgrade the LR which when I checked, I have all the latest updates. I bought this waterproof camera specifically because it could shoot RAW. Now I can only get my JPG off and not RAW. Any thoughts ?
Your camera's RAW photos are not supported until Lightroom 6.0.
So, you can purchase the upgrade to LR 6 or you can download the FREE Adobe DNG Converter version 9.0 or later and use that to convert your RAWs to DNG which can be imported into LR 5.7.