I would use 0% Superfat for LS high in Olive Oil to fully saponify the oil.
KOH solution should be 3:1 ratio of water to KOH
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That's a nice balance of Olive to Coconut. Because OO takes the longest to trace (45 minutes ?) and coconut traces fairly quickly (12-15 minutes) I would up the balance to 50/50 for the best result.
High % of coconut oil is offset by the amount of olive in the formula and is not likely to be drying as happens when making hard bars.
A little history about making LS. When Catherine Failor first published her book in 1999, we've come a long way. Failor's first recipes contained KOH amounts at +10% KOH, 3:1 Water to Lye ratio, 0% SF, and required neutralization with a 20% solution of boric acid or citric acid or 33% solution of Borax. Along the way, someone discovered that 1%-3% superfat eliminated the need to neutralize. This is still true today, depending on the fatty acids used in the formula.
Glycerin serves one of two purposes.
1) Using glycerin to make the lye solution which allows you to soap hotter and the batch traces quicker. You can use it as 100% replacement for water to make the lye solution (NOT recommended for Newbies due to the high heat and potential of toxic fumes if overheated.) More popular is using part water and part glycerin to make the lye solution (or some variation thereof). The safest approach is to use a portion of water to make the lye solution; add the glycerin portion to the oils.
2) Along with small amounts of alcohol and sugar, glycerin is considered a solvent. Add glycerin to finished soap (NOT paste) to clarify residual cloudiness.
It's perfectly OK to stop there, put it away and let the soap do its thing. It will continue to fully saponify over time -- unless some other issue is in play, such as a mistake in formulating, mis-measurement, adulterated olive oil, etc.
There is good basic information in this thread:
LIQUID SOAP ADDITIVES
HTH and Happy Soaping!