The point of wp_reset_query() is to requery the current page. WPress only allows for one is_home() or is_front_page() type of query per rendering.
If it isn’t working that means the query is being used somewhere else when the page is being built.
Place wp_reset_query() above the if statement and you’ll be fine.
<?php wp_reset_query(); ?>
<?php if(is_home() && !is_paged()) : ?>
<?php wp_list_bookmarks('categorize=0'); ?>
<?php endif ?>