I haven't tried doing wood grain with acrylics myself, but I don't see a reason why it wouldn't work. Since the acrylics dry fast, it will be less forgiving than oils. You could probably thin the Grumbacher with any water-based thinner. You could try plain water with a little flow aid added. You may also want to add some retarder.
As for technique, I'd suggest you use a fan brush or an old worn out brush that has its bristles splayed. I suggest you practice on some scrap until you get the technique down.
Let us know how it turns out.