I don't think painting nasty stuff on the wood will work. He will most likely start doing it with out holding onto anything. (At the moment, he is actually crib biting) But he will start wind sucking, most likely.
The reason he started that in the first place was because he was bored or stressed. I realize that this was in his previous home, but maybe you could let him out in the field more, give him likits and treat balls in his stable, hang swedes from the rafters, and generally create a playground for him, to keep him entertained.
I have found the collars don't usually work.