The Olympus MC 1.4 and MC 2.0 will only work with Olympus Pro lens so their 40-150mm f2.8 or 300mm Pro f 4 lens for example.
Having had a mooch around the it seems that they will work BUT I have no experience of this as all my gear is Olympus and I do not own anything Panasonic.
Also looking around I found this on Panasonic site that list Compatibility between Panasonic bodies and various lens.
av.jpn.support.panasonic.com
BUT again I have no experience of this.