I once read the "theory" that Emma Frost is a trans*woman. The guy who made the "theory" was just joking, but it made sense in so many levels, its pretty much canon in my head. I can't recall very good but it stated that her "brother", Christian Frost, was in fact Emma and young Emma is a product of Emma's own imagination, a vision of how she could be and how beautiful she could look.
In the Emma Frost series is revealed that "Christian" is gay and his father, being a bigot, sends him to a mental institution, where he's never heard of again. In Generation X #24 is stated that Emma was in a mental institution from which she escaped and she burned it to the ground and she "never looked back".
http://goodcomics.comicbookresources...rosts-origins/
There are other details here and there, and obviously some stuff was written in other times etc... but if a writer decides to make Emma a trans*woman, it would make sense. There would be no contradictions and it would explain so many aspects of her life, from her pessimistic views about humanity in general but protector of those who have suffered...
... to her fabulousness.