I bought a few of what sounds like the same thing, but black palm from Woodcraft a few months back. It was relatively easy to slice it into blanks, and I did have some mild success turning it. My failures were not related to turning, but other factors with this great looking material. It also had a VERY "musty" smell when cutting and turning, like an old attic full of wet blankets... Friction polish did not hold up, and after a short while a Euro I made developed sharp edges (the soft parts probably shrinking, leaving the much denser parts having been turned to a sharp corner exposed). I also made a Wall St II, and tried a CA finish which looked fantastic and felt much better than the friction finish did, but about 2 weeks in it cracked, exposing the brass tube, probably because of the same shrinking and the nature of the WS2's finished diameter leaving such a thin ring of wood.
So those would be my suggestions. Stick with a good thick CA finish, and go for a pen style that doesn't thin the wood out too much. Palm looks fantastic.