We had Skyscapes install Ipe wood balcony flooring on our large balcony nearly a year ago. The installers were really nice guys and they returned several times to check the installation and tweak places that could be improved. It looks beautiful.
It's gone through four seasons of all kinds of weather (including a brutal winter) and it's held up just great (see 2nd picture below). Although the wood has faded somewhat where exposed to the sun, and there are some faint water marks from our very active balcony garden (both to be expected) it still looks great and feels good under bare feet. Wood will weather! The beauty of wood, of course, is that it still looks good as it gets older.
Even so I plan to re-treat the wood with an oil recommended by the installer to keep the colour rich. You'll see the latest (last) photo shows how it is now, untreated.