Should you allow it?
Bloody Bandages sets a precedent that Garou of the Wyld use their own flesh in crafting Talens/Fetishes without consequences from the spirits.
I don't know a reason to treat a Mother's bone differently, assuming the bone was procured ritualistically in accordance with his Tribe's traditions (mostly handwaveable fluff restriction here, but did he steal the bone or was he allowed to take it?).
On the other hand, I can't source using another Garou's remains for a Talen or Fetish, but I see no reason why it would be treated differently, sans customs that the PC would be aware of when creating the item.
Should there be consequences?
Mostly no. However, if you decide there should be consequences, then the PC should be given a chance, at character creation, to be aware of those consequences before creating the fetish. Perhaps a check, perhaps you just tell the player, but it'd be inappropriate for you to rule that his character was not only oblivious to the problem here, but also that it was impossible for him to find it out.