The wood looks pretty wet. How has it been stored? What you see on the surface isn't all there is...probably. Split the log and see if there is traces of the fungi inside. It doesn't take long for fungi to ruin whitewood...as far as bow making. If there are colored streaks inside, save the wood for other wood working projects; ie knife scaled, turkey calls, tip overlays and handle risers. Spalted wood can be beautiful. Pat