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I cant remember Owen ever being anything buy loyal to Nucky
Beyond boning his girl? (I mean Nucky doesn't know about it, but not very loyal)
Owen was late to the meeting at Micky's because of blowjobs, and then at the meeting questioned Nucky (in front of others) and it was obvious the others at the warehouse were looking to Owen for guidance and not listening to Nucky.
Nucky imagines himself a lot more powerful than he really is, and he's getting upset when he's made aware that that's not the case. His beef with Owen is much more about his ego than anything specific Owen did.