Tony,

this is very nice looking wood, nou doubt!
I've been to a local knife show this weekend and a company from Solingen showed a lot of (very nice) handmade kitchen- and table knives, handled with olive wood. They all had a slightly yellow-greenish touch. Simply something I don't prefer.

Does anybody have any experiences with shrinkage or cracking?

Anyway, the great thing about wood is that it comes in so many colors and textures...

Best,
Peter