Is this wood aquarium safe?

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I would proceed with caution, personally. If it wasn't driftwood before, it isn't now. The only way i know driftwood becomes driftwood, is a soaking for a long long long time. Coupled with sun, wind, the elements.
 
I found a large piece of wood very similar to the one of yours that doesn't have branches. I found mine on the shores of Lake Ontario though! I dried it out real good in a bucket, soaked it in the tub with a capful of bleach, then re-dried and soaked several times. I finally bored a hole through a piece of slate and screwed the piece of wood to it, which is now in my wife's African tank without a single effect at all.
 
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