The reason say to treat it like Yew is because, like Yew, ERC has fairly good tension in the sapwood and fairly good compression in heartwood. So, if you have a straight enough sapwood/heartwood transition (this doesn't always follow the growth rings too well), you can make a nice selfbow by leaving 1/8" to 1/4" sapwood for the back and heartwood for the belly. It's difficult to chase a ring, but it can be done with a gentle hand, patience, and lots of light to work by.
Keep in mind that you'll need more bow thickness and length than you would for most hardwoods, as ERC is very low in density.
I've never had much luck heat-bending ERC, but others have managed to flip the tips with steam or boiling.
It's safest to back it with sinew or something if you're going for a hunting-weight bow, but I've managed to get a few nice selfbows from ERC. Then again, I've had a few explode on me, too.
Good luck!