To honour means to admire or respect.
I can admire people for expertise, tenacity, bravery, or other virtues, but I cannot admire something without personality: avocados, geraniums, feelings. They have neither virtue nor vice.
To respect means to hold in high regard. Feelings are the experiential facet of a judgment. Pure discernment does not give rise to a feeling. I can discern an avocado but feel nothing. If I judge the avocado as good or bad, I will feel something.
Where does a judgement come from? I perceive some facts, I assemble them into a situation, I perform an analysis, and I assess the results against a set of criteria. If any of those are flawed, the judgement is flawed. If they are right, the judgement is right. Emotions are neither right nor wrong, to be trusted or not to be trusted; they are merely arrows pointing to paths of investigation. Once the path has been discerned, the emotion has finished its work and can be disregarded.
I do need to take account of all emotions, but not to blindly believe them: to investigate what mental pictures they reflect and to test those pictures against reality.
So, no, emotions are not to be honoured, but they are to be acknowledged and investigated.