Ormerod was convinced the Iceland international was play-acting and made his thoughts known to the Coventry bench as he passed them on the way to the tunnel, although Gunnarsson did look genuinely hurt and his substitution after a lengthy spell of treatment suggested his injury was real.
Seventeen minutes after Ormerod's dismissal Bannan, on loan from Aston Villa, fired in a shot from 25 yards with the aid of the crossbar but they eventually let their lead slip in the 83rd minute when substitute Gary Deegan's shot deflected off Alex Baptiste, wrong-footing Paul Rachubka and finding the net.
Holloway lamented the dismissal and said: "I don't think players fake it but my player's reaction is that he is absolutely fuming. He doesn't think he caught the lad. Somebody might have.
"I remember my dad telling me a joke where a boxer sits on his stool between rounds and his trainer says: 'Come on, he isn't laying a glove on you'. The boxer replies: 'You better watch the referee then, because somebody is hitting me'.
"Brett went to shove the 'keeper because the 'keeper shoved him but he doesn't think his action would have caused that injury. Hopefully the video will show that he didn't do it but it would be much more sensible if the fourth official could have watched it there and then and could have told the referee that during the game."
Coventry manager Chris Coleman agreed with his Blackpool counterpart.
"I don't think Brett Ormerod is a dirty player," he said.
"I wasn't watching the group of players where it happened. I was watching the referee for some reason and he blew up and produced the red card straight away.
"At first I was worried it might be one of ours. I don't like to sit on the fence but it sounds like I am because I honestly didn't see it.
"I thought Blackpool were the better team in the second half - you often see that with 10 men so it feels like a point gained to have scored so late."