Combine the lemon pepper seasoning, garlic powder, thyme and cayenne; rub over fillets. In a large nonstick skillet coated with cooking spray, cook fillets in 1 teaspoon oil over medium heat for 4-5 minutes on each side or until fish flakes easily with a fork. Remove and keep warm.
In the same pan, saute the red pepper, onions and garlic in remaining oil until crisp-tender. Stir in tomatoes. Bring to a boil. Reduce heat; simmer, uncovered, for 3 minutes or until liquid has evaporated. Serve over snapper. Sprinkle with olives and chives.