There really doesn't seem to by anything you overlooked. It's nice that you included so much detailed informtion in your post.
Definitely try the grey Valet key and any other Master key you may have as already advised. One thing to check which you probably did right anyways seeing as you're so thorough--make sure the purple with the white stripe data wire is on the key cylinder side of the Accord wiring harness and the plain purple wire is on the ECM side.
Also, did you try a remote start with the key in the ignition before you installed the PKH2? This way you can eliminate the remote start as a possible source of trouble. I find it odd that it won't even crank when you put a key in the ignition and try a remote start. That could indicate that the car is seeing 2 keys--one from your actual key and another from the PKH2. Some immobilizer systems will not allow a start if they get confused by seeing 2 keys at the same time.
You might also want to try this. I installed a RS900 a couple of weeks ago in a Lexus. I hooked up the yellow/black wire to a relay that I installed as Normally closed in the starter wire. This provides an anti-grind feature when getting in a remotely started vehicle. I also sucessfully installed a PKT bypass for the immobilizer system.
The instructions for the PKT bypass (the wire colors are exactly the same as your PKH2) make you ground the brown wire to a good known ground in order to program it. Then, when it is programmed you move it to the yellow/black of the RS900. I always try a remote start before moving the brown wire from ground just to make sure the bypass works. Well, it worked fine.
Then I hooked it up to the yellow/black wire of the RS900 (diode isolated it with the ground wire of my anti-grind relay) but the car wouldn't start. I know the remote starter worked because I tested it with a key in the ignition before starting the transponder bypass. I also know the yellow/black wire worked because the anti-grind relay worked, but when I connected the brown wire from the PKT to the yellow/black from the RS900 it would not allow the PKT to bypass properly.
I took the brown PKT wire off of the yellow/black RS900 wire, grounded it and the car remote started. For some reason, the yellow/black wire of the RS900 would not provide a strong enough ground for the PKT to work. So I hooked up another relay that would ground the brown wire during remote starting. Oddly enough, the yellow/black wire had no problem grounding 2 relays but it would not ground 1 relay and the PKT.
Since you have the same remote starter you might try removing the brown wire from the PKH2 and hook it up temporarily right to ground. WITHOUT a key in the ignition try a remote start. If it starts your PKH2 is programmed correctly and not grounding through the yellow/black wire like mine wasn't. I can't say for sure that this is your problem, but if what I just described didn't happen to me I wouldn't believe it. Maybe there's a ground problem with RS900VII's that they don't know about or a compatability issue with bypasskit products (that's who made your Crimestopper PKH2-II, I believe).
I originally installed the RS900 (series 3) in my 2002 Accord with the PKH2. I have since removed the RS900 and replaced it with a CS2015FM since I wanted a paging alarm, so don't give up--the products really do work.