I've used Med CA on Cocobolo and have pretty good success. I do use an accelerator.
Process:
1) I apply a small drop on a paper towel and apply while at speed. I do this two times,
2) two puffs of accelerator, then wait (45 - 60 seconds).
3) repeat steps 1 and 2 about 4 - 6 times. without sanding between coats (if you dry sand the blank before the CA coats to 600 grit, usually sets up for a nice smooth ca coat)
4) Then wet sand through the micro mesh set.
5) polish (1-3 times)
Hope this helps,