My folks have a big honey locust in the front yard. It was big when I was a kid, and now I'm 42, and it's even bigger. It has dropped big limbs on a few occasions. It is very hard wood, but rather brittle, it seems. Great firewood but very slow to season in my experience. I season it 3 years like white oak for decent size splits. I've learned to split even 4 inch honeylocust limb wood, since it never seems to season as rounds. I prefer mulberry over honey locust because it seasons faster, both they are both better than oak all things considered, and among my absolute favorites. Easy splitting in both cases, good rot resistance, and high in btus.
I’ve seen a few rotten in the core. They tend to start out as clusters when small and then grow into one tree. Don’t remember ever seeing rot in one that starts out as a single tree. Not much scarier than starting your face cut on a tree with obstacles around only to discover it is hollow and rotten in the middle.