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I’ll give it a go.
She doesn’t have a face. Her identity is what you see. Her naked body.
She is touching herself at a pleasure center, the nipple. Also she is covered partially by a blanket. I would perceive this as her being in the motions of sexual exploration.
I would say that this act has elevated her to this height, in the clouds. The crutch might symbolically represent that, provocative feelings hold up her ‘high’.
The centaur might represent strength in virility and strength in battle.
It might fuel her fantasies.
So the trees might be a hint that this picture is rooted on Earth. The clouds are her imagination. (She’s really sitting on blankets, but she perceives it as clouds.)
So overall, she loses herself into her sexuality. It gives her a high, but is fueled with earthly pleasures of virility and strength.
Given the title it might even be a comparison of how love (honey) is a greater influence than battle/strength (blood, which could be represented by the warlike centaur as well.)
If his argument is that honey (which I’ve connected with love and sensuality) overshadows and overtakes anything blood (battle, strength, etc.) then it’s appropriate that the main subject is of her experience with honey and only gives a SMALL amount of the painting to the blood (centaur taking up a small part of the composition.)