I have 703s and when I bought them, the rep said only bake them once. Some other skates are stiff enough to be baked again. Told me that was not wise with Grafs. Given how much less stiff my Grafs are than say Bauer 170s, I think I understand why.
Yes, bake them like any other skates, lace them up tight, let them cool for 15 minutes, don't skate on them for 24 hours. You can also punch/stretch them if you want. I wouldn't bake them more than twice though.