We have feedback that microbz is very helpful for acid reflux. In particular our Revive product is very good for supporting renewal of the gut lining of which the oesophagus is part.
Regarding diluting microbz, yes you can put microbz into other things but I would not recommend taking it with olive oil as olive oil has a type of acidity with burns when taken neat. Microbz has an acidity level to ensure the microbes survive stomach acid but it is not acidic in the same way and so does not burn, and the beneficial microbes within it will be beneficial from the moment they are in your mouth all the way down.
If you did find it uncomfortable you could dilute it in filtered water (water with chlorine is not recommended) or spring water, or apple juice if you can tolerate that. Or yogurt.