olly plugin and this does 2 completely different things, olly plugin analyses the op code to determine if the there is a pointer, it replaces these pointer and references with wild cards, you can't have pointer addreses/reference ect.. in a byte pattern as it will change each time, the plugin also scan the section for any other sequence of bytes that is the same, actually the olly plug in is pretty advanced. The one posted here replaces strings if there is a match, can be useful for the lazy people.
good job, but like you said it is no replacement for olly plugin.... these are 2 completely different things