First, your are correct, using air fed ozone is a bad idea. Not only nitric acid, but any contamination in the air can contaminate the oil. While that is not a good thing, I doubt it actually did any irreparable harm at that point.
Oxygen fed ozone generators is the only way ozonated olive oil should be produced. Also, be sure your oxygen concentrator is working, as they age, the oxygen purity drops. That makes it a fancy air dryer...
You may need to just bubble ozone into the column for longer. 1 day may not be sufficient. You most likely need 2 days to a week with that small of an ozone generator.
Also,
The smaller bubbles the better.
Taller the column the better.
Higher Concentration of ozone (lower flow) is better.