While the temperature of the cob is not hot enough to ignite wood (it would need to be 300-400 degrees fahrenheit) there is still a concern in my opinion. Over time the heat will slowly dry the moisture out of the wood near the cob which will in turn lower it's ignition point.
I think if you extended the cob and heatsink slightly below the bottom of the hole it's mounted in the vast majority of the intense heat from the cob will not be directed at the wood. The way you have it now the inner ring of the hole it's mounted in is getting blasted.
I've thought about doing this with wood but it's nice to see someone adventure into it. I like the idea alot but maybe you can refine your design as you build more. I would definitely be putting fire retardant paint/stain on it also.