The Collaborative International Dictionary of English v.0.48:

Muskwood \Musk"wood`\, n. [So called from its fragrance.] (Bot.)
      (a) The wood of a West Indian tree of the Mahogany family
          (Moschoxylum Swartzii).
      (b) The wood of an Australian tree (Eurybia argophylla).
          [1913 Webster]

WordNet (r) 3.0 (2006):

muskwood
    n 1: musk-scented shrub or tree of southern and southeastern
         Australia having creamy-yellow flower heads [syn:
         muskwood, Olearia argophylla]