Simk,
Stay on this site and you will soon be speaking in enigmas and emojis like most of us! If you can smooth the wood around the fungus and seal it(super glue, maybe), I think it would give the bow quite a character look! Of course, it may also be a weak spot, and fatal to the bow. However, you have built more Bows than I have, but I think you are doing quite well!
Hawkdancer