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some people put it and some don't. douchey or no?

Up until I saw the question here, if someone didn't list them, I assumed they didn't have them.

Yes. It's not facebook. It's theoretically a networking site, so relevant qualifications should be included.

Put them if you put other details on your profile. If all you've got up there is your school and graduation year, then I don't think anyone would be drawing negative inferences if you don't put honors on.

As an aside, has anyone ever actually found Linkedin helpful for anything at all? I am tempted to say it completely doesn't matter if you list honors.

Meh, I almost never see latin honors listed. I don't have mine on there, either. But I guess to each his own.