barebo, I don't worry a lot about the grain. Most of it is straight enough to make backed bows. I do stay away from knots, but other than that I look for the heaviest, most dense piece I can find. A really nice piece of Ash should be fine. Most guys use bamboo on Ipe because it gets the most out of the Ipe. That doesn't mean Hickory or White Ash or any other quality backing wont work well.
I think I should point out to someone who might be reading about Ipe for the first time, that just because several people have made Ipe bows with a width less than 1", doesn't mean it is ideal. We are talking about using what we have, not cutting it this way on purpose. It is best to have over 1" width. You can avoid issues with lateral stability, and probably increase performance by adding that extra 1/8" to 1/4".