I don't think so. Everything I can find on the web says honorary degrees should be clearly explained in a narrative as such, and that the person receiving such degrees should not use the letters after their name, nor, in the case of honorary doctorates, should they use the title, "Doctor." So a reference to John Smith, who holds an honorary doctorate from Harvard University, would not be "John Smith, PhD" nor "Dr. John Smith" but something like, "John Smith, who holds an honorary doctorate from Harvard..."
I've seen it used: "The recipient of an honorary degree may add the degree title postnominally, but they should always make clear that the degree is honorary by adding "honorary" or "honoris causa" or "h.c." in parenthesis after the degree title. For instance, if Joe Bloggs receives an honorary doctorate, his appropriate title might be (for instance) Mr. Joe Bloggs, PhD (honorary)." http://en.wikipedia.org/wiki/Honorary_degree#Practical_use
If it does, it is a bit deceiving. Listing a pending degree is fine, if that degree truly is imminent. For example, if you were to list a degree today that was being awarded later this year, I could see that. But if that degree wasn't projected for completion until, say, 2007, it is deceptive, unless the date is also included. Then it is just silly. (When I see such listings that give a date like that, I ignore them--a whole lot can happen between now and then to waylay the degree award.)
I hire PhD-level scientists, who often interview for jobs a year or more ahead of graduation. Typically their CVs will say something like "PhD expected Dec 2005." As a rule-of-thumb, we always double the expected time to graduation (so in the example above, we'd expect the individual to actually finish in mid-2006). (Sometimes they'll go off to do a post-doc of a year or more before starting their job, so it may be 2-3 years from the job offer until they actually start!)
There is an honest doctor in Calcutta - I have a photo somewhere of his brass plaque which says So Andso MD [failed] Now THAT is honesty
This reminds me of people who state they have a Ph.D, and wish to be addressed as 'Doctor', yet whose resume lists the degree as 'Ph.D (ABD). Indicating 'all but dissertation'. I hardly think this means they earned a true doctorate.