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 with negative honor has a Houhou honorably dead. So Houhou can't enter play by his own text because the honor requirement is not met.
But, is Houhou's limited action legal to play for, say, playing the Void Ring?
Edit: Now i realize that houhou's action doesn't count for Void, so scratch that example. But, can the action be played in order to react with other cards to "An action being announced"?
A player with negative honor has a Houhou honorably dead. So Houhou can't enter play by his own text because the honor requirement is not met.
...can the action be played in order to react with other cards to "An action being announced"?
No.
Good Faith Rule: "If the action involves putting one or more cards into play as a non-optional effect, the player must be able to bring those cards into play legally to meet the Good Faith rule."