He was smiling, at least, and she chose to take that as a good sign. If there was impending doom and death and destruction, he would probably be making a much more grim facial expression. No, smiling Loki she could handle.
Maybe most people wouldn't call him on his half-truths, but Emma wasn't most people. She understood the man, to a point. Oh, she couldn't ever claim to truly know him. Loki was layered, a demigod with more power than she could even grasp, and he had so many emotions built up underneath that cool exterior he typically presented to the world. She'd seen him at his worst and at his best. She'd demanded a place in the team to rescue him without considering that most of the people in it probably didn't trust her and she hadn't given a damn, either. This man had stood beside her through the worst, offered her shelter and protection in ways she couldn't begin to grasp, and was, more than anything else, an exceptional friend. She would defend him to the death if it came to it, because he had earned her trust more than most. And Emma Swan didn't trust easily, so her faith in him was extraordinary on whole new levels.
So she shifted the baby in her arms as she listened to him. She took in his words, watched his gestures. Force of habit, paying attention to him, listening to him. It wasn't him, it was everyone. And it told her so much about him. How he wanted to tell her more but couldn't. How he felt trapped. She knew from experience not to argue with him when he got like this. But he knew how likely it was that she could let it go entirely.
"Does this have anything to do with why I'm not allowed to speak to you where anyone can read it now?" she questioned, lifting her eyebrows at him. "I'm not an idiot, Loki. You don't do your paranoid 'check on everyone ever' unless you've a pretty good reason. And I may be wrong and may have slept through it, but I don't believe you usually do it in the middle of the night."