Glass backing a wood bow is almost always a bad idea. If you tiller the bow properly, the Ipe will typically fail before the hickory.
My opinion is that your riser is too long, and/or your limbs are too short, and/or your stack is too thick.
I don't know the width of the bow, but I have one bamboo backed Ipe of approximately that length, and stack, but with a shorter riser. At about 1" wide the bow draws something like 70# @ 26"
I think you have a very stout bow there if it survives.
Personally I would tiller it, but expect to need to remove most if not all of that belly lam to get to a reasonably draw weight/length.