The Canon flash will not sync with the Oly shutter. The High speed sync needs canon's ttl2 mode to operate, and therefore needs a ttl2 body.
The Olympus T models and one of the odd om77 can use the f280 at any shutter speed. I have it and it is a very nice combo with the om4t, a marvel at its time.
Distance for it is very short though.
I assume a way to cheat around this would to maybe use the modeling light on your canon flash to get this effect. The speedlight modeling lamps do something very similar to flicker the flash at a lower power setting to get a continuous light source. or just get the f280 if you have a om3t or om4t its a very good buy.