I just cut and drilled a few Olive Wood pen blanks and noticed that they are still wet....Can I still turn and finish them as a normal dry piece of wood?...
You can turn them but they will shrink as they dry. I would advise you to let them dry a few days before glueing in the brass sleeves. I turned some wet wood (walnut) once and after a few weeks they had shrunk enough to no longer meet flush with the metal parts.