If I give Honor to someone, it is more likely to play again with that person? Because that would be cool :3

Will this act something like Elo? Like will people with higher honor be matched with others of equal honor? So that way, if you want to be matched with nicer players, you have to earn it by being nice yourself?

I can see it now....

20/1/18 Ezreal
"Holy ****, we should give Honor to sirdumpsalot9001, he's awesome!"

1/9/5 Ezreal
"Report sirdumpalot9002, intentional feeding"

Reporting already goes this way, see people in tribunal all the time who obviously just had a bad game or two and get reported because of it.

Let's assume there is an impulsive player who has games where he plays very well and gets honored and other games where he rages like hell. He gets reported as well as honored more than the average LoL player. Will he be punished for his bad behaviour? Does Honor "undo" bad behaviour?

Will accounts that give honor to good players and not honor to "toxic" players be worth more than the opposite? And to follow that up - Will toxic players' honor be worth less than others? In addition, will this only be available in limited usage per day or per game? The reason I ask is that I get usually 1 or 2 days off a week, and in those days, I play more league games (And generally a LOT of them for me). Would this make you go "Hmm. They were kind of good, but I don't want to give them honor, etc" and then regret it later?

I guess that warrants the question - would it be possible to go back and give honor to someone you played with recently. For example, what if the post-game doesn't load (Which happens occasionally), or you DC from PvP.net. Would you be able to give honor to someone in the game at that point that you feel warranted it?

Yeah this wont work, it's already been done by Microsoft in XboxLive.
In XboxLive if you want you can go to someones profile after a game and give them 'Rep', it being either 'Preferring' them as a player or 'Avoiding' them as a player.
All it showed is that people whilst people are willing to go out of their way report someone for bad behavior, they will not do the same to give positive feedback. As a result pretty much everybody in XboxLive now has a disproval rating of about 80%.
So unless this honor system is going to offer some sort of incentive for doing something nice for someone, I can see it falling flat on its face.

big ups to PB&J. I hope I'm not held responsible for any dishonourable acts the original Lu Bu may have perpetrated way back in 300 a.-to-the-d.