Here's the thing...ADCOMs want to see that you do well in whatever is important to you. For me, being in honors classes just wasn't important...I chose instead to take some cool upper level bio classes and to spend my spare time playing sports and doing research. If being in an honors program (and doing the associated work) is something that is important to you then do it, but if you're just doing it to impress adcoms and not doing it because you want to then you need to get your priorities straight.
Like what was mentioned before, adcoms just look to see that you're excelling in whatever you're doing. So if you take the honors courses get good marks. Otherwise you'd be better off getting good marks in standard courses.
I say do something else cool with your time. Who wants to sit around doing a busywork honors project when you could be working as president of a club or captain of a team.