Crossed Postal Orders are kinda like a 'Guarenteed' cheque.
Thay can't be cashed by anyone but only paid into a bank account of the name on them - blah blah - what the PO said.
But no, they can't bounce and shouldn't take any time to clear like a cheque. The original buyer of the Postal Order would have already had to hand over the equivelant sum of money to get it - so it's cash but in a secure form.
Um...
... does that make sense?