jmtoni, the plant grows very slow, at most I get only 2 or 3 fronds a year per trunk, unlike the cycads where it can yield about 10 to 12 fronds in one growth flush. Your plant is still young and being grown indoors, all the more it will grow slower and with the cold season, much slower. So do adjust and give long watering intervals.
I agree with Carter, the encircled parts are not roots. It is fun to watch the new growth when it comes out, like a brush.
This type of plant is not really best for pruning like other trees used for bonsai. There are other caudiciforms that are better candidates if you really like pruning branches and roots to make a bonsai.