Yes it should work with this system it looks like a basic Heat Pump wiring.
Did you put the Red to RC and Blue to C
Orange to OB
White to W2 Aux
Y to Y
G to G
Then tell Nest its a Heat Pump forced air with Aux heat on W2
Since the Honeywell wiring had the red wire going to R (not RC or RH) I placed the red wire to the RH option—not Rc. So should I have placed it to RC instead? I read online that if it starts out with just R it typically goes to Rh, if no R option is available.
I always put it in RC when it is a Heat Pump system because it is the cooling system air handler providing the R and C.
RH is normally used if you have a heating system separate from the cooling (dual transformer systems).
When there is only one transformer the Nest figures out the power is coming in on RH so it still works the way you connected it.
You can do a power test on the Nest to confirm you are getting correct power.
Awesome! I'm glad to hear it was sorted out. It looks like we have come to a solution, so I'm going to lock this thread within 24 hours. If you have any other concerns or questions, please feel free to create a new thread.