There is an EU/UN standard for regen braking that Honda follows. It regulates lots of things related to regen braking including when the lights should come on.
5.2.22. Generation of a braking signal to illuminate stop lamps
5.2.22.4. Electric regenerative braking systems as defined in paragraph 2.17., which produce a retarding force upon release of the accelerator control, shall generate the signal mentioned above according to the following provisions: Vehicle decelerationsSignal generation≤ 0.7 m/s²The signal shall not be generated> 0.7 m/s² and ≤ 1.3 m/s²The signal may be generated> 1.3 m/s²The signal shall be generated
For reference, 1g is 9.81m/s².
I believe the lights come on when our energy guage indicator goes below where the line gets thicker.
I've also noticed that regen braking is stronger when you have it in sport mode, and the regen setting chosen with the paddles only stays on when in sport mode. Sport mode also increases slightly the amount of regen braking that each chevron represents. Also using the brake pedal will increase regen braking, but also engages the primary brakes. So the maximum regen braking is achieved in sport mode, with 4 cheverons, with slight pressure on the peddle and in the range of about 40mph.