Lets face it... a good bit of us have a low star Honor Blade at the bottom of our backpack, we don't ever use it but we can't bring ourselves to throw it away either (nostalgia).
Why not let players be able to upgrade these items?
Every November 14th (The day of the Homecoming Celebration) have an event in which the knights can earn Honor Versions of the Cobalt armor and it's line. The Material for this armor would only be obtainable during this event and the material could also be used to upgrade the Honor Shield and Swords.
This would let the newer players be able to obtain some cool new Blue and Gold armor and would encourage the older players to wear/use/and upgrade their old gear.
Along with this even there could also be Boxes released filled with Honor styled Accessories and Costumes (these costumes would not be as ornate as the event armor).
The honour stuff is kind of like groundbreaker but for existing players a few years ago. I'd say hands off the honourblades etc. but that giving every single knight an ornate blast bomb would be hilarious. That way, we can have a new unobtainable landmark like thing for players to not get in the future.
The other change that I'd like to see would be stun added on the charges of the honor blade/scissor blades. That way, these things can let fans of levi like me have a shot at the wallet busting stun charge. I'd even re-install the game to stun stuff.