My bad, I assumed Future Fonts did something similar to other type foundries. Thanks for letting me know!
When there's a license you're either violating the license agreement or you're not. That's not an honor system.
No, "honor system" is very frequently used and understood to refer to a system where there are explicit rules but where the rules are not enforced via active surveillance.
It sounds like you want to make a judgement call: "they're too small to enforce this license agreement," so you get to pretend it's an honor system and not a license agreement.
The context was whether there is automatic enforcement, not whether you need to abide by the license.
Who's going to verify whether or not you're violating the license?