The 2 things that happen with this material is fuzzing and rippled edges. A 2 flute compression is fine, going to a 3 flute will not really help, you would just need to adjust the chipload and be back where you started. It is all about sharp tools. I use a (2 flute) Vortex 3130 at 720 IPM and 18K RPM.
What works for me is , like Dropout, to do 2 passes, I happen to do the first in climb and the second conventional both on the same line at the same speed. You could just as well do both conventional and do the first cut a small distance away. I think there is a lot of material cleared away before the second pass and the cut is cleaner since the chips are not mashing into the panel sides. The bit needs to be new or freshly sharpened. If you have just cut 20 sheets of melamine or MDF with a bit, put it aside and save it for more melamine. Flake and MDF dull the edge slightly but continue to cut MDF or flake well, but it will not cut the wood core fibers cleanly anymore.
Since the core layers alternate direction the cut in the "Crosscut" layers compress more than the "Rip" layers. You can see the bulging alternate as you look at each edge in succession around the panel.
I can cut Columbia 5 ply aspen core or Garnica 7 ply poplar core just fine, but the 9 ply fir cores or the euro birch with 13 or more plys tolerate dull tools better. The more layers to the core the less pronounced the rippling when the tool starts to get dull.
Another thing to keep in mind is that you should edge band soon after cutting. letting the panels sit too long allows the layers to absorb ambient moisture, but the end grain layer takes up moisture quicker than the side grain layer contributing to more rippling of the edges.