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Dear Joel,
We do worship the Blood of Christ. After the words of consecration ("This IS my Blood...Do this in memory of me") the priest hold up the chalice so the people might adore Christ truly present. It is no longer wine, but the Blood, Body, Soul and Divinity of the Savior. From that point until the Blood merges with the flesh of those who receive Him we adore His Precious Blood. It would only be idolatry if we were worshipping physical matter, not God Himself. But the matter is transformed into Christ and only the "accidents" (taste, color, weight, acidity, etc.) remain.
As you stated, the Blood of Christ is also present in the Consecrated Host, so it is sufficient for Adoration outside of Mass.
God bless,
Father Bloom
Other Questions
Father Bloom, I just had a thought. Why don't
Catholics ever save the "blood" of Christ, put in a
bottle or jar, then worship the blood? According to
the apostles it is the Blood of Christ that does the
saving, not his body. I know that technically
according to your doctrine both the wine and the bread
become the body and blood of Christ. However, the
wine does still symbolize his blood. Why do you
worship his form and not his essence, his blood?
That's what's idolatorous about Mass. You should put
the consecrated wine up for worship while still
distributing the wafers. However, I know you won't,
so don't put that in your response. Tell me if this
thought has ever occurred the you that you are
worshipping the wrong part of the Eucharist.
Joel Coleman