Since it seems that more and more of us are looking at Cocobolo for our guitars, and some of us really like TruOil as a finish, I thought I'd share a thought here. Now I may be preaching to the chior as it were, but I found that Cocobolo does not like TruOil, or other oil finishes for that matter because of the high oil content iin Cocobolo itself. Interestingly, the wood does not seem particularly oily but evidently it most certainly is. When I put TruOil on the raw wood, it would not cure... at all! However, a couple of base coats of shellac, which cures just fine with cocobolo, then sanded back ( but not sanded back as far the wood of course) ensure a fine surface for that TruOil finish some of us love. I'm pretty sure Deft brush on sanding sealer would serve as well.
My two cents worth of experience,