It turns out that it isn't actually a TV channel as such, but rather the BT Vision box is pretending a website is a channel, allowing for interaction and streaming video. In fact the screenshot above is from the Honda TV website rather than from the TV (the only visible difference is the TV doesn't show a progress bar under the video). Even stranger for a new feature on the BT Vision box is how out of date the whole thing is. Honda pulled out of Formula 1 back in December yet they still have an F1 section on Honda TV which is showing videos that are at least two years old. All very odd.
In principle I think the idea of using a website as a TV channel could prove useful and interesting but I think BT really missed the mark when they choose Honda TV as the content for this first attempt.