Here is my take on your question; Osage bark and sapwood come off much easier on a green stave than a dry one. You will pat yourself on the back when your stave dries and you already have the bark and sapwood off, even a ring chased if you choose to go that way.
With the bark and sapwood off, sealed with 3 or 4 coats of shellac you can rest easy, nothing is going to munch on your stave, it is very unlikely you will get drying checks. Almost every stave in my gigantic osage stash has been been pealed and sealed while green.
Beware quick drying green osage, I know from experience and a bunch of ruined staves.
My findings;
Green, sealed osage placed in the corner behind the water heater will check beyond belief.
Green sealed osage put in the attic during the Alabama summer will warp, twist and check to the point of being firewood.
Green, sealed osage put in my drying box will check like crazy also even at low temperatures. I found I must let osage get down to 16% MC before I put it in the drying box .
Osage with the bark removed but not the sapwood will check no matter how well it is sealed. The thickness of the sapwood plays a roll in how much checking goes on but it is still better to remove it and not take a chance.
The best and safest course of action is to rough out your bow blank, put it up for a few months then gradually introduce it to methods that will speed up the drying process.
