Apologies Paul for the brutal response.
To answer the question a little more professionally:
Yes, there are many MANY things that can go wrong with wood.
First alarm bell is the very suggestion by a builder to make a former from wood.
Now you possibly have an expert there, but the overwhelming chance is he is (with the best of intentions) going to cobble something together.
Wood is never a good idea because it is not dimensionally stable, it expands and contracts with humidity, moisture and temperature.
Even if it is waterproofed with a liquid or fabric membrane, it will ultimately fail in a short space of time - (disclaimer) unless this is done by an experienced expert who in 2017 should by now be using newer methods and materials.
If you can explain the problems you foresee with a moulded former, perhaps I can be more helpful?!