I use a lot of bloodwood - beautiful stuff. Deep, rich color.
I concur with routergieck - it will move quite a bit after you resaw it and relieve internal pressures in the slabs. Resaw right before you need it. I also agree with the brittle comment - guard against chipout at the edges. But it will cut cleanly with sharp tools and hold detail if you carve it.
Normally, I plane/scrape it out and finish with Waterlox. I hand rub the Waterlox (not brush it) and let it build up four or five thin coats.