You can use about any finish on it. I have used friction polish, CA, Deft, and poly - they all will work. Colorwood, while looking like Dymondwood, is softer. I have found that it does need more than one coat of finish since the first coat will be absorbed. The CA required the fewest coats and should work pretty good if you are finishing items without lots of detail. I am sure there are others with more knowledge that might be able to help you more.
Jerry