Hi again,
After too long, I got them dry enough to work again. I don't want to wet them again, I now understand why the fellow told me to cut it dry, it takes forever to dry out. To speed it up, I'd recommend storing them in a sack of salt. I used rice, but salt should be better. In the tropics we always had rice in the salt shakers to keep the salt dry.
So I went from 600 wet diamond resin pad to 1200 diamond compound in an oil base. No color fade! Then thru higher stages to 50K. Turned out nicely, so what did I learn?
1. Water is a big pain. Paul's advice in the first post here must refer to older production. I'm cutting Gondar (Welo) white and clear base here now, I dunno what exactly he was cutting then, but don't store this stuff wet because the color fades. Water is useless with this stuff. I don't really understand why he is showing his rough wet when it won't look like that after cutting it. But the pictures look great. I am going to try shaping it with a 600 or even a 1200 bonded diamond steel disc and use oil as a lubricant instead of water. Light silicone oil in a spray bottle or drip tube should do it, these pieces don't need much shaping. Then I'm going directly to diamond pads for sanding and so on. If you do use water lube with your usual diamond cutting wheels or discs, allow time for it to dry before the polishing stages. Paul is probably correct about the vibration from steel wheels though. I use discs and I don't have that problem, but if your wheels wobble or run rough, it could be a problem. The good side is that this material is very soft. It cuts very fast on steel wheels so use a light touch.
2. It is brittle, so be careful along the edges. I wouldn't use anything rougher than 600 and I just got a new 1200 disc so I wouldn't have to use the 600 so much.
3. It does not like heat, so be careful in the higher grit polishing stages. It has a grain related to the color structure.
4. It is so soft, it scratches easily. High domes are beautiful in the magazines and jewelers windows but extra care must be taken for this material. Ring setting will be a particular problem and jewelers may come to hate us.
5. It's the prettiest thing I've ever seen.
Here are pics of my first two:

and

Please forgive the crusty edge (I've sanded it smooth) and the specks on the face of the opal. I had to have them there to focus on. The first one is a stairstep pattern, one of the "almost harlequins" we were talking about elsewhere on the forum.
I have another bigger and nicer, high dome cab which I scratched while removing it from the dop stick, hence my caution about softness. When I repolish it, I'll post a pic of it too.
I'm thinking that this material would be perfect for hand cutters, working with a couple of diamond files and some sandpaper, finished with rubbing compound or tripoli? Or even diamond compound?
I hope we'll get some more pics of the Ethiopian from others too.
Mike