The Collaborative International Dictionary of English v.0.48:

Allegorize \Al"le*go*rize\, v. t. [imp. & p. p. Allegorized;
   p. pr. & vb. n. Allegorizing.] [Cf. F. all['e]goriser, fr.
   L. allegorizare.]
   1. To form or turn into allegory; as, to allegorize the
      history of a people.
      [1913 Webster]

   2. To treat as allegorical; to understand in an allegorical
      sense; as, when a passage in a writer may understood
      literally or figuratively, he who gives it a figurative
      sense is said to allegorize it.
      [1913 Webster]