Honda ecu's do NOT read KS input at WOT, only partial throttle.
IF it pings at WOT, nothing will happen to ur timing.... the KS is only really meant to save the engine from bad gas... the kinda bad that pings on light throttle and low advance.
Silvermike, when the ecu sees input from the KS, there is no CEL displayed, the ecu will simply recalibrate the timing and fueling lookups to suit... you cannot tell it has been done except for the drop in torque and increased gas mileage.
That timing reduction doesn't stay tho, every time you turn off then start back the engine, the ecu resets it's short term fueling/timing values, averaging in the old values with the long term fuel/timing values. This allows the ecu to run under normal conditions again until it hears knock (if you didn't increase octane or fix the problem since the last start up). The big downside is that if you continually get knock at partial throttle for a few startups (like 5-6 cycles), the ecu's long term value average drops considerably, which negatively affects power output until a proper ecu reset.
Ever notice how your car runs a weee bit better everytime you reset your ecu ? No... it's not in your head... it's your short and long term values being reset... your ecu will then begin the data collection all over again... in the meantime, you get to run on the premium fuel lookup tables.
**The actual on goings are a little more complex, but this explaination should cover the basics.