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I applied in November and have yet to hear back from several schools. Recently, I was inducted into Phi Beta Kappa and I am wondering if I should send each school a brief email about this new accomplishment. I've already sent a why statement and a LOCI so this would be just a brief email update to maybe help get me off of the fence. Do you think this would help? I've heard that it can be bad to spend updates about small things. Would this be considered one of those things?

Yes, keep it succinct but this is a major award. Top 10% of your class that has demonstrated broad academic achievement...this is worth noting. PBK is widely considered the top honor society for undergrad; at least for non-engineers.

Thanks. I took your advice and sent a quick email.