I have made many drip tips, so can give you MY opinion of using wood for a drip tip.
Wood is a beautiful medium. It looks good and you can get just about anything you want in it. However, in this application, it is the worst of all mediums. It WILL get wet and disintegrate over time. This applies to both natural and stabilized wood. There is no possible way to prevent this. No wood is happy with being in a wet environment constantly. (You cannot get a wetter environment than something that is in your mouth constantly.) It is fragile as well, meaning if you drop your mod, you can probably kiss your drip tip goodby. I have used many different types of sealers and finishes. They all work good, and 90% of wood finishes are food safe after curing.
In short, if you use several drip tips, and rotate them (at least) daily, you should be quite happy with your results. Regular care would see you cleaning and wiping the tip out frequently, and allowing it to dry out completely after each use. If you want to put a tip on and just perform weekly maintenance on it, do not expect that it will last long.