I think you're misunderstanding the use of the word "luck" in statistical analysis. Luck refers to variance. All performance has variance up and down. The difference between "expected performance" and actual performance is luck, if you believe in the model that provides the expected performance. It's unknown whether a team will have good or bad luck (or any luck), but for any team that greatly under-performs or over-performs its expected performance, it is rational to expect a regression to the mean.
He's counting Oden as a new player this year, so his injury last year isn't related to his contention that the Blazers were lucky. The Blazers, as they were comprised without Oden, had a lucky season by Hollinger's model. So, if you are looking at last season's record as the baseline for what to expect this season, some of the gains from gaining Oden, Bayless and Fernandez will be lost in regression to the mean.
Unless they again over-perform Hollinger's expected performance. Which could happen. I am not speaking to whether Hollinger's numbers are accurate or the best, but if you believe in his model (as, of course, Hollinger does), that use of "luck" is perfectly reasonable, in my opinion.