The north end of that wave looks as though there is a mid-level circulation associated with it, just onshore of the Yucutan near where Emily made landfall. The southern end, near Belize, is currently the more convectively active part of the system. Once it emerges into the Gulf overnight into tomorrow, something might get going. It's longer-term prospect would be better if the southern end were to win out, given the upwelling in the wake of Emily further north. Waters there are still around 27 C, recovering at a decent clip, but are churned up below the surface. Nevertheless, if a storm gets organized through there, it's likely going to be a short-lived event that heads to Mexico.