Never tried but it`s an intriguing idea. You don`t mention the thickness of the honeycomb that you are thinking of machining nor the width (thickness of the web upstands ). I think the biggest problem will be feed rates. As you enter each section the cutter will have a tendancy to bend rather than cut through the mesh. If I were going to attempt this I would certianly think along the lines of backing up the form before attempting to machine it. Possibly use some expanding foam but not before applying a good coating of release agent then that will help in the cutting. The next problem will be extracting the foam without damaging the aluminium .
Good luck
Syd