Depends on who you ask.It has natural oils and doesn't need stabilization.But it can be,and is ,stabilized - with good effect(Mike at WSSI does it).I personally don't stabilize it.If you use fresh belts,slow speed,don't overheat it,and buff by hand it probably won't crack or check.
It is beautiful,although I use blackwood for most jobs.Prime Gabon ebony is hard to beat for total black,though.About 20 years ago I bough $2000 worth of a log that was sunken in the river,somewhere near Kango, for over 100 years(whole log was $50,000).It was so carbonized that it looked like black marble when polished ( it cut and sanded with a powder like charcoal dust).Sadly it is all gone but for a few blocks ,held backs for projects unthought of as yet.It will never be replaced.One of the projects I made was an ebony humidor from it that I could get $5000 for today.I still have the rest of the 1" Spanish cedar plank I made the interior out of.
Stacy