How much weight can wood paneling hold?
You're asking for trouble if you try mounting a TV on wood paneling.  Even if it holds initially, the weight of the TV will be pulling constantly against the paneling.  Eventually it's going to buckle and you're going to have a pile of TV broken on the floor.

What is the paneling affixed to?  If there are studs behind it, put your anchors in the studs.  If it's against a masonry or concrete (block) wall, put some good masonry anchors into that, and do a pull test to make sure they're secure.