A topic from AEG's L5R CCG Rules forum, copied for Oracle of the Void from a copy of the forum saved in October 2015, so pages it didn't save are missing. Players' names are left out; the rules officials are named. Rulings are as they stood on these dates; later rulings, the rulebooks and the Rules Archive may differ.
A player, 8 September 2010
According to this. You can buy for honor multiple times in a turn.
However, the Comprehensive rules say...
He may reduce the Gold cost to play the Personality by 2. If he does not choose to do so, he may choose to gain Honor equal to the Personality's Personal Honor just before he enters play (also know as "buying for Honor"). A player may only gain Honor this way once per turn.
it goes on to say..
Buying for Honor is an entering-play effect. If anything causes the Personality not to enter play, the Honor gain does not happen.
From effects (emphasis mine) under replacement effects... The rules on duration and scope of prevention effects should be followed to determine the scope and duration of substitution effects. However, substitution is not itself prevention or negation.
This implies the "Honor gain" did occur. Indeed, if the player had not choosen to gain honor he would not have lost it to the replacement effect of Faint Praise. Just because an effect was altered does not mean it didn't happen. And the effect wasn't negated/cancelled/whatever we are calling it these days. It was replaced. That the player in question did not actually gain honor from the choice is irrelevant, the choice was made. A choice that the rules say can only be made once per turn.
A player, 8 September 2010
However, substitution is not itself prevention or negation. This implies the "Honor gain" did occur.
No, it implies that the Honor gain was neither prevented nor negated, it was replaced by another effect. Regardless, it did not happen.
Just because an effect was altered does not mean it didn't happen.
Actually, this is exactly what it implies.
That the player in question did not actually gain honor from the choice is irrelevant, the choice was made.
As I previously said in the ruling you quoted, the choice is irrelevant, only the actual Honor gain matters. An Honor gain occurs whenever a player's Family Honor actually increases by one or more. Due to Faint Praise, the Family Honor did not increase but decreased, which implies there was an Honor loss, which means the player can still buy another Personality for Honor during his Dynasty Phase.
A choice that the rules say can only be made once per turn.
No, the rules say that "a player may only gain Honor this way once per turn", they do not say that he may choose to gain Honor this way only once per turn. There is no restriction on the choice to gain Honor, there is a restriction on the Honor gain itself, that may happen only once per turn. If Faint Praise's substitution effect make it not happen, then the player may buy another Personality for Honor during the same Dynasty Phase (if he can afford it).