In my younger years I used wood often in jewellery.
But I found it wanting in the long term.
It just does not last, does not keep a polish and many woods are
photo sensitive, so eventually they become brown looking.
Red Ivory and Zebra wood, beautiful when freshly finished, show that
effect over time.
I had limited success using a polyester resin under vacuum to
stabilize the wood, but I disliked the idea of ‘plastic wood’.
In the same vein, I disliked gluing stones in wood.
One method I found that worked well for me was to first make a tube
and set the stone in it.
Then near the bottom of the tube, I would use an Ongolette no 4
graver and raise four or six a ‘barbs’.
When the tube is then pressed into the hole in the wood, the barbs
act like a fish hooks and the tube is impossible to remove without
breaking the wood.
I also would solder a jump ring near the top of the tube so that it
hides the edge of the hole in the wood.