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John Hudson Holam male (cholem male) is the vowel O represented by the letter vav with a dot above. Vav haluma is the combination of vav plus holam, VO. Since these both consist of vav with a dot above, they are easily confuseable, and until Unicode 5.0 there was no way to distinguish them in the text encoding, and ergo no way to distinguish them visually. After much discussion on the subject, the Unicode Technical Committee accepted encoding of a new character, U+05BA HOLAM HASER FOR VAV, so that the dots above vav can be distinguished.
Since holam male is much more common than vav haluma, and the encoding vav + holam was already in use for this, the new character is used to represent vav haluma. So
Vav + holam (U+05B9) = holam male = O
vav + holam haser for vav (U+059A) = vav haluma = VO
The typical visual distinction, implemented in the SBL Hebrew font, is that the dot in holam male is positioned over the vertical stem of the vav, i.e. to the right, while the dot in vav haluma is positioned over the left side of the letter.
The distinction is explained in more detail on page 16 of the manual for version 1.5 of the SBL Hebrew font, which can be downloaded here:
http://groups.msn.com/SBLFonts/documents.msnw?fc_p=%2FFonts&fc;_a=0A good example of the distinction between holam male and vav haluma is found in two consecutive words in Genesis 4:13×¥