Stabilized wood has had all (or nearly all) of the empty space within the wood, such as pores, filled with industrial resin. This essentially makes the wood waterproof and resistant to warping and other problems with untreated wood, and turns it into a material that machines much like micarta. When taken to a high polish, it looks accordingly like wood that has been taken to a high polish. In other words, it will absolutely retain the look of the wood, as long as you take it to a high grit/polish, though it should feel fairly different depending.