We report multifrequency radio observations of GRO J1655-40 obtained with the Australia Telescope Compact Array, the Molonglo Observatory Synthesis Telescope and the Hartebeesthoek Radio Astronomy Observatory at the time of the major hard X-ray and radio outbursts in 1994 August-September. The radio emission reached levels of the order of a few Jy and was found to be linearly polarized by up to 10%, indicating a synchrotron origin. The light curves are in good agreement with those measured with the VLA, but our closer time sampling has revealed two new short-lived events and significant deviations from a simple exponential decay. The polarization data show that the magnetic field is well ordered and aligned at right angles to the radio jets for most of the monitoring period. The time evolution of the polarization cannot be explained solely in terms of a simple synchrotron bubble model, and we invoke a hybrid `core-lobe model with a core which contributes both synchrotron and free-free emission and `lobes which are classical synchrotron emitters.