Ok, so make sure the pad is always spinning, best way is to draw a thick line with a sharpie on the backplate. This will ensure correction is being done. Pad not spinning would not cause holograms though.
Make sure you don't overwork the product. If you can't see the compound on the paint anymore, or if you see dusting, it is time to spray a little water on your pad.
10 pounds of pressure should be ok. Make sure it's really 10 pounds, use a scale to mesure your pressure with the PC. It might be a lot more than you think.
Try using the orange pad instead of the microfiber and see how it goes.
Make sure your pad is clean at all time (no sand or debris or anything other than the compound on it).
Make sure to clean the pad after each panel. If you have a pad washer this is really quick and easy if not you will have to take the time to do it by hand.
How long would you say you worked each panel?
Can't think of anything else of the top of my head. Maybe Mike Phillips with be able to tell you more, but this is something I have never seen and did not even think it was possible so the help I can offer is limited.
Good luck!