Honour Holland typically announced displaying royal finery (5,6)
I believe the answer is:
crown jewels
'royal finery' is the definition.
(jewels and regalia owned by a monarch)
'honour holland typically announced' is the wordplay.
'honour' becomes 'crown' (crown is a kind of honour).
'holland typically' becomes 'Jools' (Jools Holland, British musician and TV presenter).
'announced' indicates a 'sounds like' (homophone) clue.
'jools' sounds like 'jewels'.
'crown'+'jewels'='CROWN JEWELS'
'displaying' acts as a link.
(Other definitions for crown jewels that I've seen before include "held in the Tower of London" , "Royal treasure" , "Sovereign's regalia" , "National regalia" , "Monarch's regalia" .)