I don’t think they will kill off Henry. It’s a family show and there could be potential for Henry as he grows up to get some really powerful storylines in future seasons. What they don’t want is a situation every season where it becomes Henry’s dead. No he’s not. Yes he is. No he’s not etc. You can only kill off and bring back a character so many times before the audience gets fed up and wants the character to die already and stay dead.
We can always hope! I truly believe that since bringing Emma back to storybrook, Henry has served his purpose. He is now merely a point of discord between Regina and Emma. The writers don’t know what to do with him anymore and it shows… Let him die his heroic death and move along.