Honduras continues moving toward open conflict, as President Zelaya pushes for a vote on the constitution, which both the Supreme Court and Congress have indicated is illegal, and the military does not support. See Matthew Shugart for an analysis of the numbers in the legislature (and whether to call the vote a plebiscite or referendum--he opts for the former). And Boz has background here and here. It is an unusual situation, with Zelaya insisting that it is just a "public opinion poll."
Hugo Chávez has expressed his strong support for Zelaya, though interestingly in a statement he even acknowledged that "everybody is against it."
“In short, what is happening in Honduras is that the Congress is against the electoral consultation, the Supreme Court too, the General Attorney, the Church and the bishops are against it, the bourgeoisie is against it; that is to say, everybody is against it, any resemblance with our reality is not a coincidence.
Presumably someone is for it, though his approval rating is only about 30 percent.
Regardless, this is yet another example of constitution-itis in Latin America. There has been a slew of entirely new constitutions written in recent years (though this is by no means a new phenomenon). Honduras is currently on its 16th constitution, from 1982. It is a poor country based largely on agricultural exports (e.g. coffee and bananas) controlled by foreign investors and constantly beset by natural disasters. A new constitution will not change those realities, just as previous constitutions did not.