I believe this whole honor thing was invented during the planning and production of TNG because they again wanted to have an alien on the regular cast. Roddenberry insisted that no Vulcans be on the show, so that basically ruled out Romulans, too. So they decided to use a Klingon character. And since you canīt very well have a ruthless, treacherous warrior among your bridge crew, they simply had Klingons and Romulans (who really were
an honorable people in TOS) switch roles.
But still through the whole run of TNG few Klingons acted truly honorable. So Iīd say yeah, it is "a bunch of hooey"!