That brings up the question of what exactly Emma’s power is. I have a feeling her power is making things magical again (e.g. the hat, the compass). She will never be able to actively use magic like Regina or Rumpel, but she somehow triggers the magical attributes of objects or maybe even people. Thus, if Emma got her hands on that dagger, it could very well start working again.
If you’re right (and I suspect that you are), then that makes Emma a very dangerous weapon. Not Emma herself, but the magic that she brings. If she’s able to infuse magic into something without magic, then she could easily be used by someone. Rumpel would be the main candidate for this, since Regina doesn’t even seem to know who she is.