Elayne will see the dragons as a horrific development in warfare, with effects akin to some destructive weaves, and without the protection of any oaths from anyone. Once knowledge of their making spread out, and it will, nations will start using those against enemy nations etc. They may even use those against Aes Sedai one day.

In a world without artillery yet, a ruler with no inclination to war like Elayne, and an Aes Sedai to boot, will most likely see dragons as a necessary evil at best. As Rand's lover, she might hate the stupid name "dragons" too - as if Rand really needs to be associated by more people to killing and destruction.

As for making "dragon ter'angreal", what would be the point, really? They're proto-cannons, primitive artillery. Elayne not only knows nothing about that, it's also unclear how exactly the OP could be useful in the engine.

As for Setalle Anan's "knowledge" of ter'angreal, it always seems exagerated. Setalle Anan is like a pre-renaissance scholar trying to understand modern technology without guidance.

By all evidence, whatever scholarship she possessed, it didn't advance the understanding of ter'angreal very much, and she even burned herself out playing with them: so much for expertise. She probably has a good knowledge of everything still known about ter'angreal in the New Era and collected at the Tower, which as we know isn't all that much. She could have a few intuitions/theories that combined with Elayne's Talent and Aviendha's might lead to interesting discoveries and even break-throughs down the line (the general principles would be of great help, before anyone can think up new complex things...), but unless Elayne finds soon some lost knowledge that would let her control her channelling while pregnant, that's not likely to be something terribly important for the LB - more for the future in the epilogue (that Talent seems less a plot device than thematic: Elayne is a (re)builder, someone who will usher humanity into the new Age, after Rand dealt with the remnants of the past and bought them this new beginning). What Setalle possesses is interest in the topic, and as a scholar in the technical field she probably has a much greater ability than Elayne to decipher the "treasure" which is the AOL library. My general feeling is that it isn't Elayne's talent that will prove important, so much as objects or two in her collection. Her talent justified her curiosity and keeping those objects in the plot, rather than dumping them forgotten in some stable or vaults, like what was found in Rhuidean or Tear.