Mine had an "evergreen" handle IIRC. It was soft and felt somewhat damp. It reminded me very much of waxwood, both in texture and color. It's been holding up as well as the rest of the bolo.
Going by what Bob said, I believe that the issue here more than anything is assembly rather than materials. There was a loosy-goosey fit inside and under shock, things got to moving and the pin did more harm than good at that point. I suppose that there might have been a flaw in the wood but I'd think that that would be secondary; I have several handles with cracks in them and they haven't caused problems by themselves.
Look at it like this: a small bamboo peg is sufficient to keep a katana together. If the tang was a loose fit in the handle, would the peg still work? If the tool is going to take a thrashing the parts have to mesh fairly well -- not perfectly, but well. Utilizing more pins, harder wood, etc. is merely treating the symptoms.
Don't hate on the pine either. I've chopped some monstrous pine out here that made blades too hot to touch and jarred the hell out of my arm and back. I gave up on it for a handle material the first time I tried, as it tore up my belts so badly that I threw it in the fireplace out of frustration.

It was full of cured sap that might as well have been epoxy, it had dried so hard.
In any event I'm glad to see this BWB getting a new lease on life. I'm digging the new handle. :thumbup: