I haven't gone to either of them but I have ADR in November for Homecoming. I guess it's matter of your preference? Asian-fusion food or Southern-style food? I chose not to go to Morimoto (eventhough it was very tempting because of the deco inside), I chose Homecoming because it's something I can't really get where I live. I can get Asian-fusion food anytime in Los Angeles.
We went to Morimoto in August and loved it. On our next trip we are going back there and generally we do not go the same restaurants on back to back trips. That is how highly we thought of this place. The atmosphere was great and so was the service. I have not gone to Homecoming so I really have no opinion for there.
I have only done Morimoto, but it was incredible. From what I have seen/read, you will have a tough time finding people who don't rate Morimoto as outstanding, but you find quite a few that list Homecoming as kind of "eh."
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