I've had a bit of experience working with Honduran Rosewood. It's heavy, dense, somewhat oily, has reasonably small pores and is in the middle on the stability scale. It should be fine for smaller uses like knife handles, but I've seen it crack in acoustic guitars.
I like the lighter reds, browns and yellows it has compared to Indian or Brazilian Rosewood. It's less dramatic than Cocobolo, but I like the more understated look. Some stuff I have has dark black lines running through it which can be very cool on a smaller project.
I'd say go for it. It should make for some nice projects.