Nicola

[Majsju]

In CoT we learn that Nicola has run away. But why, and where did she go? RJ seems to hint that she's gone to Elaida, maybe explaining how they could know about Egwene's last adventure (supposing those capturing her IS Elaida's, but that's another theory...) However, RJ is well known for using red herrings all the time, so what he seems to hint may just be a way to lure us away from what really happened.

In NS - TN The Amyrlin What's Her Name Again sends Siuan Sanche (and Moiraine) out on a secret mission.

In TDR, The Amyrlin Siuan Sanche sends Egwene (and Elayne and Nynaeve) out on a secret mission to hunt down darkfriends.

In CoT Egwene is the Amyrlin, and a very promising Novice mystically disappears. Is that a pattern I smell?

That raises the question, IF Egwene has sent Nicola out on a secret mission, what is it? To the BT? Hardly, Nicola is way to hotheaded to be trusted with a diplomatic mission.
To Caemlyn? Nah, why would she do that? She's in contact with Elayne and Avi, knows what they're up to, and knows that they can take care of themselves.
To Rand? Pssht! She knows how untrusting Rand is, and she alöso knows that there are a bunch of sisters with him, including Nynaeve.
To infiltrate the Tower? Could be. Nicola has a credible reason for wanting to run away (wanting to learn faster than Egwene allows). And since she's a novice unknown to Elaida, she wouldn't be as suspected as a full sister switching sides.
To search for Gaewyn? Could also be. If Egwene has heard rumours about him being around, she might want to haul him in, for a number of pretty well-known reasons. But on the other hand, why would she need to send someone out in such extreme secrecy for something like that?

Well, I've thrown in some basic ideas, now it's your turn.

[Tinker]

I'm in the middle of a reread and has just finnished CoS, so at the moment I can't remember much of what happens later in the books. Nicola has been mentioned several times though.

In FoH, when Nicola first comes to Salidar Min has a viewing "Those three you brought with you are trouble"
speaking of Nicola, Areina and Moghedien.
This could of course just be Nicola blackmailing Egwene, but it could be something else...

In CoS, when Nicola is about to blackmail Egwene, we learn that "Nicola apparently was making great strides... ...she had begun picking up weaves as if she already knew them."
Several times we are warned about people learning to fast, but more likely it's just becouse of the extra lessons she has foced from Myrelle. It could be something else though...

I think this sais something about what Nicola is willing to do when wanting something. She isn't burdened by to much scruples. Wich coud indicate that she can be made to do some more or less shady mission. Like spying.

Also in favour for your theori is Egwenes' thoughts about Nicola after confronting Myrelle. Also in CoS.
"A pity she could not find a way to harness such talent for ferreting out what was hidden. A way to harness it safely."

The last quote shows that Egwene atleast has thought of how to find use for Nicolas "talent".

I don't know if there is other hints later in the books, but I'll keep it in mind while reading.

[Majsju]

Well, I think that Egwene might be less concerned about Nicola picking up faster than she's supposed to, since Egwene did that herself.

And Nicola has already caused a great deal of trouble, so Min's viewing might already be fulfilled.

[Tinker]

I think you are head on, but that's only me...

I don't remember the books after CoS so good, so I'll just have to keep it in the back of my mind while rereading. And check in on what progress this thread has.