So, PatM told you the straight dope. THAT particular section of the TBB is outdated, and archaeologists have reversed their thinking that many of those very old bows were made "backward". It is now believed that the Holmegaard bow had an intact ring (under the bark) for the back. Lots of discussion on this back ten years ago or so on Paleoplanet.net, with even some of the researchers and museum guys from Denmark and Germany showing up.
However, the answer to your question is "yes". A ton of bows have been made with worked backs since the publishing of the TBB's, especially by all the guys making board bows. A bow from a quartersawn board is a lot like the Stellmore. Flat sawn boards work, too. Additionally, it's a bit of a trick, but quite a few guys have decrowned narrow staves with the idea that it protected the back. Most of us would now say that, even crowned, an intact back is safer and easier.
If you want to do it, do your best work following grain exactly to produce parallel ring lines up the back. You can, and should, reduce strain with added length and width.
The thing is, I could make a durable bow using 3/8" plywood, if I made it long and wide enough, and distributed the strain along the limb well.
