- Elo is literally just that, ELO.
http://en.wikipedia.org/wiki/Elo_rating_system
That link should explain it better than I will try to. Is just a sort of ranking system that while used with LoL shouldn't be as it is supposed to be forliteral solo ranking but is applied to solo queue Ranked in LoL which relies on a team so it is rather flawed.
ARAM stands for All Random All Mid which is what people used to do, start a custom game, everyone clicks random, everyone went mid, then moved to the one lane map, then eventually Riot picked it up as an actual game mode used on Howling abyss where the game randomly picks your champion and you all go down "mid" which is essentially a one lane map.
Anything else I'm not sure without knowing which you are referring to. ask and I'll answer.
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As the person above said, you need to be level 30 and you have to have I believe 15 champions minimum to play it. I wouldn't suggest it until you are actually comfortable as the skill difference can vary from Normals (non-ranked Summoner's rift, as all Ranked solo queue is done on Summoner's Rift).
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The new champion Rotations are done on Tuesday but there are some exceptions such as patches that don't fall on a Tuesday but that is rare on both cases.
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the person above is exaggerating and most that say that are exaggerating because they are angry or someone acted like a jerk in a game they just played. I have been playing LoL since 2011 and I can say that this community is no better or worse than most other gaming communities. Some people get frustrated in Ranked games because it gets much more competitive and will lash out but it isn't as if everyone does, more like 1 out of 100 act like a tool.
Don't stress it and just have fun. Most times if you act like a jerk you will be treated like a jerk but if you act like a chill nice person the same is returned.
5)The Reward so to speak for the honor system is getting honored so many times in so many games you receive a Ribbon. The person above is slightly misinformed saying the Ribbons were season 3 but they still are given, they just raised the amount you need within a certain amount of games because people were abusing the system (oddly enough :s) with friends to spam honor in custom games and the like.
I don't know the amount and Riot has never said an exact amount so just be chill and if you think you should be honored don't be afraid to ask, worse that happens is someone says no or just doesn't do it. It is nothing special but it gives a different colored ribbon on the corner of your champion splash art when you are in the loading screen after champ select.
- Yup, level cap is 30
Ask anything else if you have questions. Not everyone is patient enough to answer but we've all been a "noob" at this game.