I searched around to find something which can bail lucid out.
But instead I found this:
hol·o·caust (hŏl'ə-kôst', hō'lə-) Pronunciation Key
1. Great destruction resulting in the extensive loss of life, especially by fire.
1. Holocaust The genocide of European Jews and others by the Nazis during World War II: "Israel emerged from the Holocaust and is defined in relation to that catastrophe" (Emanuel Litvinoff).
2. A massive slaughter: "an important document in the so-far sketchy annals of the Cambodian holocaust" (Rod Nordland).
3. A sacrificial offering that is consumed entirely by flames.
[Middle English, burnt offering, from Old French holocauste, from Latin holocaustum, from Greek holokauston, from neuter of holokaustos, burnt whole : holo-, holo- + kaustos, burnt (from kaiein, to burn).]
hol'o·caus'tal, hol'o·caus'tic adj.
People did actually use that word for massacre in Cambodia! Hmm... so a stronger argument for not calling Palestinian carnage a "holocaust" could be that its a translated word from hebrew and perhaps should only be used for Jews burnt in masses?
-The devil's advocate.