With a laminated longbow and bubinga riser (no i-beam), you would be safe finishing sight window to center cut not shot.
Bubinga is much tougher than the maple so you are actually weakening the riser. Yes, laminating will add strength if there was an inherent issue with solid riser.
You can add the phenolic for strength, but as long as you don't over grind grip or end up with excessively heavy bow, I would leave that out. Even with the phenolic, I wouldn't venture past center cut.
As long as your wood is dry (both mentioned woods are likely kiln dried) you won't likely have an issue adding the phenolic.
good luck, BigJim