Cut it the rest of the way down before someone has an accident walking by it....but seriously, Willow burls that I've had the opportunity of seeing here in central Arkansas are on the 'open eyes' type, with a lot of 'timber' between the 'eyes'(if that makes sense).
This time of year, there is probably going to be quite a bit of moisture in the wood. The timber itself is very 'stringy', and not much fun to turn(JMHO). A lot of people like to stabilize the stuff just to 'not have to deal with sanding' the strings....
The wood is friendly for carving though...spoons, forks, and such.
Scott (is it dark heartwood?) B