Looking back, honour involves stardom occasionally (10)
I believe the answer is:
retrospect
'looking back' is the definition.
(I've seen this before)
'honour involves stardom occasionally' is the wordplay.
'honour' becomes 'respect' (respect is a kind of honour**).
'involves' means one lot of letters goes inside another.
'occasionally' indicates alternate letters.
The alternate letters of 'stardom' are 'tro'.
'respect' placed around 'tro' is 'RETROSPECT'.
(Other definitions for retrospect that I've seen before include "Look at history" , "A backward view" , "Survey of past events" , "Contemplation of the past" , "review" .)