After soaking the ends of some boards in a pail of acetone for only a few minutes, maybe 24 ends of 1" x 3" mitres then letting the acetone evaporate, a 1mm+ layer of black tar resin was left.. amazingly resinous wood. When drilling it, often the resin will bubble up out of the wood.
I am not so quick on gluing after cleaning with acetone, but I clean it thoroughly first, more than just a quick wipe. I wipe with a wet rag until massive amounts of color is no longer coming onto the rag. Sometimes I will dip mitres to be glued, then let them dry thoroughly.
For milling, and especially sanding, really every process needs proper dust collection. Sanding with an orbital with no dust collection will fill every nearby nook and cranny with toxic dust. Get someone who is highly allergic to Cocobolo near there, and you could have a bad situation.
Still, I love Cocobolo. It is worth the effort. I love that wood.
Also, it requires a lot of patience in allowing moisture to stabilize after milling when using it. In a 2" thick board, the interior will probably hold most of it's sap moisture for a long, long time with air drying. A kiln can only go so far in drying Cocobolo without causing lot's of checking. Better be patient with that wood, with any wood really.
With drum or belt sanders, 100, maybe 120 is about as high a grit as you can go. My old wide belt sander used 48" belts. 100 grit was top with Cocobolo, and just barely too deep a cut, or too many successive passes with Cocobolo would clog the belt. My new widebelt uses 60" long belts. I can sand Cocobolo to 120 grit, and with 0.008 passes, clogging is not as much a problem anymore. With 100 grit, the 60" belts just don't really clog.