EDIT:
I did not realize there was still controversy, and I didn't know about the 2020 paper Peter May linked to today, but I like it a lot. I'm always happy to defer to Peter, so the terminology I'll try to stick to from now on is that $O$ is:
constant-free if $O(0) = \emptyset$ is the initial object of $M$
reduced if $O(0) = \ast$ is the terminal object
unital if $O(0) = I$ is the monoidal unit of $M$
I wasn't aware of Fresse's terminology for unitary (meaning unital above) and non-unitary (meaning reduced above), but I'm not a big fan of it because being "not unitary" is not the same as being "non-unitary."
It is worth pointing out that evaluation gives an $O$-algebra morphism $O(0) \to A$ for any $O$-algebra $A$, so unital operads encode flavors of unital algebras, which is nice.
ORIGINAL POST:
Twelve years later, the terminology has converged. Let $M$ be a closed symmetric monoidal category so I can consider operads valued in $M$.
An operad with no arity zero part $O(0)$ is called constant-free. This means there are objects $O(1), O(2), \dots$, with actions of the symmetric group $\Sigma_n$ on $O(n)$ if you want to work with symmetric operads. Equivalently, one can work with operads where $O(0)$ is the initial object of $M$.
An operad where $O(0)$ is the monoidal unit of $M$ is called reduced. This terminology is used in the seminal work of Berger and Moerdijk Axiomatic homotopy theory for operads and on the nLab page.
When we just say "operad", we assume we have $O(0), O(1), O(2), \dots$ and a priori $O(0)$ can be any object of $M$. Note that in the case $M = Set$, being reduced means $O(0)$ is a point.
The OP asked for "examples where these distinctions are interesting." One important example is in homotopy theory. If $M$ is a monoidal model category, the category of constant-free symmetric operads has a transferred model structure, which is left proper if $M$ is. The same is true of the category of reduced symmetric operads but is FALSE for symmetric operads. An example where the category of symmetric operads has only a transferred semi-model structure is given in Example 2.9 of the paper Bousfield Localization and Eilenberg-Moore Categories (published in HHA).
A reference for everything in this answer, as well as pointers to the literature where these terms have become standard, is Homotopy theory for algebras over polynomial monads, published in TAC.