Glass lams are not made with mat/wool - they are made with unidirectional fibers. This is a very different animal than chopped strand mat. Chopped strand wouldn't even make it to brace height. Cloth (woven fabric) also isn't strong enough for a limb lam. The fibers must be unidirectional. The carbon lams you see that are woven on the surface only have a thin layer of woven fabric (generally 0.010") the rest of the lam thickness is unidirectional carbon. The woven stuff is added for the 'look' as unidirectional carbon just looks like plain old black glass in a limb.
You need high elasticity for any material to use in a limb lam - hence why glass is superb in this application.
The only application for phenolic in modern bows is either as an I-beam in the riser, riser/nocks overlays or other 'decoration' in the riser. You can also make solid phenolic risers but they aren't my cup of tea.