Cook beans in boiling water 5 minutes. Drain and plunge beans into ice water; drain. Place beans in a large bowl.
Cook bacon in a large nonstick skillet over medium heat until crisp. Remove bacon from pan, reserving 1 teaspoon drippings in pan. Crumble bacon; set aside. Add shallots to drippings in pan; cook 1 1/2 minutes, stirring frequently. Add vinegar; cook 30 seconds, scraping pan to loosen browned bits. Drizzle mixture over beans.
Combine honey, mustard, pepper, and salt, stirring with a whisk. Pour over green bean mixture; toss to coat. Sprinkle with crumbled bacon.