GRA,
I haven't seen any olive wood pieces big enough for anything but a small pistol. The wood moves and checks quite a bit while drying, but once it is seasoned, it seems very stable. It is hard (but not as hard as maple) and carves beautifully.
Ahtuwisae,
Here are a couple of pictures of scraps cut from the same piece as the bullet board and stained with aqua fortis (iron and acid, not just dilute acid...haven't tried that yet). The first shows the two pieces with the grains rotated 90 degrees.
This second photo shows the same side half stained and half not.
The third photo is just a close up....the wood actually looks better than this in real life, but the color is well displayed in the photo.