No. If you can see some sort of activity, then it's probably the earliest signs that it's doing it's "multiplying thing" and is in "lag phase".
Once the yeast colony has built up enough, then you should see air lock activity (as long as the seal is good of course). You could always take a sample and test the gravity to make sure it's dropping........
Personally, I don't like the liquid yeast smack packs. I've tried them and they do seem to need very specific numbers. I'm guessing that it might have something to do with the yeast activity before use i.e. that it's more fussy about moving from the pack into the must and can lag etc.
Either way, I'm thinking along the lines that your recipe is a little on the light side with the honey. I know that the liquid sweet mead yeast pack should do about 12% ABV or so, but I'd have still gone with a miminum of 3lb per gallon. You may find that it's still gonna ferment dry at 5lb/2.5lb per gallon.
If you monitor the gravity, when it reaches half way (presuming that you did take some sort of reading before pitching the yeast ???), then put another 1lb of honey into it.