"Since your Olympiad rose is growing vigorously, it likely isn't a matter of being too old. Sometimes old roses do need to be cut back severely to rejuvenate them, but if it has vigorous growth, that doesn't appear to be the case.
One thing that you might check is where the vigorous shoots come from. Occasionally the rootstock of a grafted rose sends up a vigorous shoot that overtakes the top. The most commonly used rootstock blooms only on two-year-old wood. Therefore, it will grow with strong shoots the first year, but not bloom on those shoots until the following year. If this is the case, you should cut out the undesirable shoots from below the graft union. If the top part of the rose above the graft union is still alive, it may take off again after you cut off the errant shoots. If the top has died off, you may need to replace the plant."