Moving from our eco bee thermostat to a Honeywell. Ecobee had orange wire running to a slot labeled O/B and the wire is orange. New Honeywell has both O and B slot. Which do I plug the orange wire into?
Depends on the equipment.
You could hook it to either, run the equipment and if it is doing the opposite, heating instead of cooling, and vice-versa, move it to the other terminal. You won't hurt anything.