In an interview with TVGuide, producers Adam Horowitz and Edward Kitsis were asked if Emma’s favor will come into play in Season 2, and they answered, “Hell yes!”
Some fans believe that Mr. Gold will use the favor to help him find his son Baelfire, whose fate is unknown after he disappeared into the ground in Fairytale Land. August Booth (Eion Bailey) tricked Mr. Gold into thinking he was Baelfire, but that was only so he could get help with his Pinocchio problems.
Another theory is that Mr. Gold will use Emma to hurt Regina (Lana Parrilla). And he has some major leverage in the form of Henry (Jared Gilmore). But would Emma ever do something against her will? More importantly, what would be Emma’s punishment if she doesn’t obey Mr. Gold’s rules?