Let $V$ be a vector space over the field $\mathbb{F}$. A norm
$$\| \cdot \|: V \longrightarrow \mathbb{F}$$
on $V$ satisfies the homogeneity condition
$$\|ax\| = |a| \cdot \|x\|$$
for all $a \in \mathbb{F}$ and $x \in V$. So the metric
$$d: V \times V \longrightarrow \mathbb{F},$$
$$d(x,y) = \|x - y\|$$
defined by the norm is such that
$$d(ax,ay) = \|ax - ay\| = |a| \cdot \|x - y\| = |a| d(x,y)$$
for all $a \in \mathbb{F}$ and $x,y \in V$. This property is not satisfied by general metrics. For example, let $\delta$ be the discrete metric
$$\delta(x,y) = \begin{cases} 1, & x \neq y, \\ 0, & x = y. \end{cases}$$
Then $\delta$ clearly does not satisfy the homogeneity property of the a metric induced by a norm.
To answer your edit, call a metric
$$d: V \times V \longrightarrow \mathbb{F}$$
homogeneous if
$$d(ax, ay) = |a| d(x,y)$$
for all $a \in \mathbb{F}$ and $x,y \in V$, and translation invariant if
$$d(x + z, y + z) = d(x,y)$$
for all $x, y, z \in V$. Then a homogeneous, translation invariant metric $d$ can be used to define a norm $\| \cdot \|$ by
$$\|x\| = d(x,0)$$
for all $x \in V$.
\parallelis a relation symbol, so it includes space on both sides. You want\lVertand\rVertfor left and right delimiters, so that there is space on the "outside", but not on the "inside". – Arturo Magidin Jul 4 '12 at 2:33