[Mr. D]

Your 2 pair 4 outs confusion is probably that what you think you are reading as the outs to make 2 pair is actually the outs to make a full house from 2 pair, that is, there are 2 of each of the cards you have paired left to make your full house. In full-table, loose omaha/8, the assumption is that a made hand (a hand using all 5 cards . . straight, flush, full house) is usually necessary to take down the high side of the pot. This may not be the case given weak betting or a very uncoordinated board, but you certainly won't lose lots of money playing only made hands and draws to them in a loose O8 game.