If the blank is sawn as straight as can be and the snakes run side to side, I'd do it. as long as most of the grain runs mostly down the middle of the bow behind the backing, you'll be ok. heck, you could even make a snakey backed bow.
If the front surface waves a lot, or snakes back to front as well, I'D avoid it like the plague. The only backed bow failures I have ever had that weren't my fault, some grain ran front to back through a 3/8" piece of wood (jatoba, massaranduba, and osage) at one spot, and the belly sluffed off like a shingle when bent far on the tree.