Maybe 'Father and 'Teacher are terms that need to remind us that we ought to be respecting the 'offices' of Father and Rabbi far more than the man who occupies the office.
Every father is a representative of God the Father, and every Rabbi a representative of his Son. When we see the office as strong and necessary and therefore focus our intent upward to God where it needs to be, we can begin to discern the frailties and human weakness of our own fathers, biological or spiritual; and the frailties of our own rabbis from the sacredness of the office, which is of God himself, and of God alone.
By honoring our teacher, and our mother and father, and by placing ourselves in a correct relationship to them according to the divine offices which they occupy in relationship with us; by respecting and seeking answers crucial to our well-being, who we are really honoring is God himself, who has created these offices for our own betterment, and for his own greater glory.
We must however distinguish between the office, which is of God, from the office holder, who will always be imperfect, sometimes mistaken, and all too often even evil.
I am not sure if hyperbole is the best explanation then of what Jesus was teaching us. There was a certain amount of literalness to what he was saying too, but that can only come out when we distinguish the institution of fatherhood from the men who temporarily occupy that office with different degrees of imperfection.