Speed record attempt on wooden bike

Taking this on a velodrome, no way that wooden tyres will grip on the banks.

Yes, that does seem like a mistake. Most UK based record breakers run on the beech at Pendine Sands, although that thing will probably lumber along at such a low speed that grip won't be much on issue. The combination of dodgy steering geometry and worse front wheel aerodynamics will probably make it larch from side to side in any kind of crosswind as they ply their way around the track.