I think that Woo honestly believed he could beat Tony, and if that is the case on top of all the honorable stuff, then it makes more sense.
I honestly think Woo was more worried about losing to Kass than he was beating Tony.. they always poll the people after the show, but Jeff said it himself, hindsight is 20/20. In the moment in that situation, based on responses, Woo not being a very good sales person, there is a chance Kass could have beat him. And I am going to laugh hysterically now if people tell me otherwise as I spent a few pages arguing with them about this from the other side :P
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"In brightest day, in blackest night / No evil shall escape my sight / Let those who worship evil's might / Beware my power, Green Lantern's light!"
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