Usually when people talk about the "honeymoon period" they are referring to T1. In T1, the pancreas is producing progressively less and less insulin. However, if you adopt a diet and exercise regime that reduces the need for insulin then, for a while, the insulin that the pancreas can still produce might be sufficient (or, more commonly, it only needs to be supplemented with low doses). Eventually, the insulin production falls to a level where it is effectively zero and the honeymoon is over.
The situation is rather different with T2. At least at first, T2 diabetics usually remain capable of producing their own insulin - the problem is that it is less effective. For T2 diabetics insulin therapy is only necessary if the damage to the pancreas becomes so severe that it can no longer produce enough insulin for glucose regulation, even when aided by drugs and diet. Usually this is the result of a long period of uncontrolled BG - such as in an undiagnosed diabetic. At this point, T2 becomes much closer to T1 in terms of treatment. You don't usually hear of a T2 honeymoon period, because there is usually either enough residual insulin production for the diabetes to be controlled by drugs and diet (i.e. it is "non insulin-dependent"), or there isn't - at which point insulin therapy is required.
However, just because a T2 goes on insulin, doesn't necessarily mean that he or she will always be on insulin. Sometimes, when you start insulin treatment the beta cells of the pancreas recover. The theory is that since they no longer have to produce much insulin themselves, they get a chance to "rest" and can then recover some of their previous functionality. There are stories of T2 diabetics who get very good BG control after a period on insulin, who subsequently manage to wean themselves off it (e.g. there is one such story on this forum in the
How far can you reverse diabetes type 2 thread). This isn't really a honeymoon period, though, because it isn't necessarily time-limited in the same way.