Not so sure. I'm not going to say he was wrong to give the two yellows. They were both yellow card offences, and he shouldn't get a pass on the second just because they didn't stop the first. The whole 'if he's already on a yellow he doesn't make the second challenge' is a bad argument for me - we shouldn't accept that the yellow card is there for everyone to have one free hit. That players will make an illegal challenge if they know it's only a yellow. That's not the spirit of the game. If he knows that challenge is yellow card worthy he shouldn't make it, and the whole 'if he's on a yellow' inherently requires him to know it's a yellow card challenge.
But at the same time, I can't say it was totally good reffing. That first foul wasn't an accident. He was clearly het up and getting 'over excited' - "good reffing" would have been to have noticed that and recognised if he let play continue Martinelli was at risk of going in with too much force.
But Wolves were on a break, good referring is to let the game flow and continue the advantage they'd created, shirley?