Osage has the highest extractive content of all of our native woods, and many of these extractable chemicals are water soluble, and will partially leach out during soaking. The leached wood would then dry faster because the wood cells are less obstructed for the evaporation of the sap/water. Bugs are also controlled by soaking.
The same chemicals give Osage its decay resistance, which is the highest of our native woods.
Dan Quillian told me once that Osage should be soaked in running water for an extended period of time before drying.
I have no idea whether there's actually any benefit to the soaking, other than bug control. At the very least it would allow the wood to be held longer before processing. Many wood storage yards in the South use a constant spray of water over the piles of pine logs to keep bugs out. There's a point of diminishing returns beyond which the water causes stain and other deterioration, so it can only be done for a limited time.