A recurring hamstring injury has been cited as the reason why the former Birmingham, Wigan, Tottenham and Stoke midfielder has not been asked to accompany the squad on their pre-season tour.
The 30 year old had recently failed to impress on trial at Philadelphia Union, with head coach Jim Curtin suggesting that Palacios was not match fit.
It appears as though this has also been the case this week at Euxton. Palacios also failed a medical at Qatar SC in last summer's transfer window.
He did not make a single appearance for Stoke City in the 2014/15 season.
The news that Wanderers have passed up on the opportunity to take on the Honduran should be music to the ears of Josh Vela, Neil Danns, Jay Spearing and Liam Trotter, all of whom will be vying for a place in one of the two holding midfield roles that manager (for now) Neil Lennon likes to play.