The system has been observed mainly from a distance and with probes. The primary Star of Homam is B8V main sequence star at around 3.5 solar masses, rotating much faster than Sol with a period of 1.4 days (Sol has a 25 day rotation). Its companion star is a K9V dwarf at around 0.6 solar masses. The two stars are gravitationally linked and impact each others orbit but the link is not as strong as other binaries.
The system contains no planets but is home to several nebula-like dust clouds filled with subspace anomalies. Study of these anomalies has not been undertaken, even when a vessel by either the Vulcan Science Academy or Starfleet Command has been assigned to study anomalies where this system is within its scope. While the system does exist on star maps, no information is available other than the most basic information and a note that its can be a navigational hazard and should be avoided.
Classified Information
Starfleet Intelligence has a standing order to steer ships away from this system though a reason is not given for this directive. Further investigation by even the highest levels of Starfleet Intelligence do not show who gave the order, why the order was given, or when.
Conspiracy Theories
Theories about this system are rare but do exist. Freighter captains usually have at least one or two persons on board that claim to know someone who has been there and barely made it out alive. Most Starfleet personnel have heard of these rumors give them little credibility. Among those who make a choice to live in deep space without a home port (long term freighter captains, social outcasts, deep space traders, etc..) the general consensus is that something very strange goes on there. Ships going near the system are turned away. If one avoids these ships beacons warn that "lethal force is authorized without further warning". The beacons transmit in all known languages and standard hailing frequencies for most races. The signal itself shows an unknown or non-unique quality preventing the broadcasting technology from being identified.
Rumors thus conflict, quite a few rumors say it is a secret base of Romulan origin. Also that they have been cut off from Romulus because of Federation patrols but that they have a super powerful weapon that prevents a direct conflict. Since the Romulans don't wish to reveal such a weapon and the Federation has not found a defense against it yet. Similar rumors about other powers exist but are less prevalent saying it is a Cardassian outpost or even recently a Dominon facility. The Federation is also a possible occupant of the system with some particularly fringe stories saying it is a joint facility with the Borg where citizens are assimilated to allow the Borg to perfect their techniques in exchange for a nonaggression pact.
Section 31 Involvement
Upper echelons of Starfleet Command have found that something is definitely going on here. Queries are met with stone walls, deleted records, and out-and-out threats. Among those who are able to speak of such things it is theorized that it is a Section 31 research outpost, though what is not generally known or speculated about.
Reality
The reality of the situation is that Section 31 does have facility there where they research enhanced propulsion and weapons delivery methods. In early 2379 activity surged when Section 31 was testing a Subspace Accelerator designed to accelerate a warp capable vessel up to the 5000 cochranes range (approximately 5000 times light speed) temporarily.
Other than the accelerator itself a platform station serves as a secure point to transport people to and from the accelerator. The shields of the accelerator are keyed so only the platform is able to transport through them.
During initial reactor testing the accelerator surged and several unsuspecting ships within the testing area were accelerated far beyond the maximum expectations of the test. Measuring acceleration and direction of the departing vessels caught in the accelerator it is probably that they ended up in the Cartwheel Galaxy. It is unknown if any vessel survived, though some ships at the edge of the testing area were destroyed by the acceleration wave. The calculated speed of ships being accelerated by the device was in the range of tachyonic speeds but impossible to calculate exactly.
The acceleration wave created a subspace vortex with heavy gravity, remaining stable for 1.29 seconds before it collapsed. It is unknown if this vortex would have allowed transit from the accelerator to the Cartwheel Galaxy or if communication through this vortex (should it be a conduit) was possible. Such a strong gravitational force nearly shifted the orbital path of both stars. Fortunately it collapsed before a significant change could occur.