Aw no, Gutshot! Broken anything is horrible, but your hand? That's gotta be maddening.
Thanks for the tips by the way. I did get some more work in on the stave (before a friend came over and we did some shooting, can't resist flinging arrows on a nice day!)
I ended up working at the giant knot area and flattening out the belly on it a bit. I'm pretty sure I know the answer to this, but it looks like there's a really dry/crunchy spot that I'm pretty sure doesn't go all the way through. I think that even if I reduced the wood to remove it completely, it'll still be around 1" thick and so can stand to have a good amount of material removed.
Here's the before pic. I had just barely started taking it down, it's pretty gnarly:
Here's after I started in on it. There's still over an inch of thickness here. This area is super hard, I'm assuming I'll have to thin it out more than the rest of the bow since it's not going to bend well?