Again, this definition may be more helpful from the mathematical prospective than a practical prospective.
I do believe all overhand bends are smoothly tied, although i have yet to be able to prove it. I think that this would enable us to find every overhand bend in existence by considering every possible way in which the two structures can be oriented, and then every possible entanglement therein.
The reason i said a zeplin bend is arguably the simplest homogeneous knot is because the zeplin bend may be tied very easily, and consists of only one tuck in each strand. Some others are equally simple, but less symmetric from this viewpoint (the loops are not going the same direction in some, such as the hunters bend, and in others the symmetry is flipped so that the knot is not really homogeneous. 1408 has the two strands doing mirror images of each other, not the same thing).
The definition seems a little abstract for most things, but it explains a few phenomena very welly. For instance, comparing mikes bend to a jar sling knot becomes easy. In fact, i find tying mikes bend to be simpler by creating two loops around my finger, and then weaving the tails through the structure. Also, it gives a rather simple way to tie very complicated bends, particularly for those who are turks head inclined, assuming those bends are smooth.
I would really like to get a topological opinion of this classification, because I believe it may be very significant in knot theory. It gives the ability to wright many bends as turks heads, and this is useful mostly to topologists. Also, it provides a framework for modifying knots, and as i have already shown, i think it will help make pretty knots.