With regard to proceeding straight outbound from a parallel entry to a racetrack procedure for a ILS, I can see no problem with this manoeuvre, and nowhere in Pan Ops Doc 8168 does it say you have to complete 1 hold? However flying the procedure at 280kts could have implications, to ensure you remain within the protected airspace??
Bring this up at the approach briefing stage if you have any doubt as to how the Captain will fly the procedure.
If you find yourself in this situation in future, tell the Captain "you feel uncomfotable with the situation and would like to return to the holding facility"
This would have been more constructive rather than refusing to call outbound!