Photographing fireworks has always been a challenge and even today, with modern digital cameras, it requires some planning and technique. Here are a few tips to get you on the right track.
A great innovation in the most recent Olympus cameras are the 'Live' long exposure settings. This essentially draws a preview of your image as it is captured, not unlike seeing a print develop in the darkroom. There are three settings: Live bulb, Live time and Live Composite. The latter is the most useful for fireworks as it really helps to keep the exposures from over-exposing.
It really helps to speak to the organisers of the event beforehand. If you know where the fireworks are being launched from, you have a better idea of where the best photographic viewpoint is likely to be.