I just read on Green Armadillo's Player vs Developer blog that Honour won't be reset after all:
We had hoped that the introduction of some new Honor rewards in the upcoming patch would give players a great opportunity to spend any of their remaining Honor. However, many players would still be surprised by an Honor and token reset as it isn’t something we’ve done in the past. As such, we've decided to not reset Honor or tokens upon the release of Wrath of the Lich King. Players who save their Honor will be able to spend it on level 80 rewards, although those rewards will be significantly more expensive than their level 70 counterparts. (Source)
I speculated on whether Blizzard would choose to reset Honour (or should that be 'Honor'?) Points come Wrath of the Lich King, and it appears that the results are in. Vaneras sez:
As many of you know we will be featuring a new Battleground, a dedicated world PvP zone and all new PvP items in Wrath of the Lich King. In order to make the transition from The Burning Crusade to Wrath of the Lich King flow as smoothly as possible, all accrued honor points will be reset at the launch of the expansion. We do this to ensure select players do not have an unfair advantage at level 80 from stockpiling honor to instantly purchase the newest Wrath of the Lich King PvP rewards. For those with unspent honor points prior to the release of the expansion, we will be offering a few upgrades and special rewards in next content patch solely for purchase via the honor system.
and in the same thread...
All Honor Tokens will be wiped as well. This reset should happen right before the launch of Wrath of the Lich King.
So, spend your Honour and Tokens when 3.0 hits, because you won't get another chance come November. It's a shame that they won't be doing the same with Honour as with Arena Points (resetting them when you hit lvl71) as it means people taking a break will need to re-sub before Wrath hits to spend the points they already earned. That said, these Honour items will simple be levelling aids, nothing more. It's not that big a loss.
Hell, at least the news is coming out now and not two weeks before release.
Eyonix has a post up listing the new honour rewards and they are distinctly underwhelming. Basically they are upgrades to previous PvP Cloaks, better than the ones currently for sale from Badge Vendors such as Dory's Embrace, and a set of new Trinkets. Also all PvP-Gems have will no longer be BoP nor Unique-Equipped so they can be traded and used like any normal Jewelcrafter gems.
ADDED 2: Season 4 will end with Patch 3.0.