Ray fleking makes me think something in the Acer genus, maybe box elder?
And if you can use it, that's up to you. The Japanese love to use alder and magnolia wood for handles, which most American knife makers would say is far to soft. The Japanese just replace the handle when it gets to worn, scuffed or damaged.
Personally I wouldn't stabilze it. It would be pricy given how much compound they would suck up, and if you want a heavy, hard and stable wood with that look just buy some hard maple.