Hi Laurenr,
I've spend enough time attempting to achieve an "economical" but efficient way to do it successfully and I can tell you the best, easiest and most effective way to do it, there is, give and acceptable level of hardness on a soft piece of wood, spalted or not, without using Industrial equipment, is to soak the wood into a mix of normal PR resin and acetone, about 70% resin, 30% acetone.
Stir the mix thoroughly (don't use any catalyst in the mix) use a 2kg ice cream container (right size for pen blanks), pour the mix on to the blanks, covering them completely quite generously, as the wood will soak quite a lot. At this stage, a pressure pot will be crucial to force the resin into the wood, by the pressure exerted inside the pot of between 50 and 80 PSI, normally.
An overnight stay is all it takes, then drain the resin off the blanks and stack then flat (on top of news paper or small timber strips to void sticking) with a gap in between, if a number of blanks are done at one time ( the ice cream container does 16 to 20 blanks in one go) stack them vertically in a 4 blanks raw, in cross orientation.
If you have plenty of sunshine, put them outside in the sun for a week or so, if sunshine isn't about and the temperatures are low, put some of the resin catalyst (hardener) in one of those women small perfume bottles, and give the blanks a good spray, as this will will harden the resin a lot faster. You can also use and old fridge or even a heavy duty cardboard box to created a small drying kiln, just by putting a hot lamp inside (careful with too much heat and possible overheating, causing possibly a fire. Use less hot lamps, they are a lot safer...!
Not going to extreme steps to get the blanks totally dry (hard), I would say 2 weeks following these steps, they should dry sufficiently for safe and working conditions...!
Good luck...!
Cheers
George