+1 on no tung oil. If needed mineral oil is food safe but after doing my walnut mash paddle i would forgo oil as after two brews its all off anyway.
Looks nice! I'd avoid the tung oil. You don't want tung oil in your mash as its probably not safe to consume (unless you know its 100% pure tung oil, but even then) and ipe is naturally oily and water resistant anyway.