Ate well, as in being festively honoured (7)
I believe the answer is:
feasted
'ate' is the definition.
(feasting is a kind of eating)
'well as in being festively honoured' is the wordplay.
I cannot quite understand how this works, but
'as' is within the answer.
'being' could be 'ted' (Ted is an example) and 'ted' is present in the answer.
The remaining letters 'fe' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for feasted that I've seen before include "Banqueted" , "Ate lavishly" , "Ate high off the hog" , "Had a lot to eat" .)