Just a few random thoughts:
- If you're applying straight from undergrad, ou can say that you're pursuing a certain level, but the actual honors probably won't be conferred until graduation.
- The requirements for honors/high/highest vary by school, so again, in general, the specific designation probably isn't a big deal. Of course, that doesn't mean that the high GPA, extra coursework, and thesis won't matter in their own rights.
- I've heard + read that senior theses are looked well upon. If you have the opportunity to write one, I personally would say "go for it," law school aside.