I have an old Lennox heat pump(15+ years old) and a Honeywell CT70A t-stat. I think it was wired incorrectly. Here's what it has:

Orange - X
Pinkish/White - E
Red - W1(jumped with Y1)
Black - O
Green - G
Brown & Blue (2 wires) - R
Yellow - W2

Also there is a second set of wires (red&white) in their own conduit not connected at all.

Is this correct?