Man I spent hours and hours just last month trying to reverse engineer the original Notator/Creator dongle and get Notator to launch in emulation by patching Hatari to emulate the dongle.
Codex & Gemini & I had something almost working. That dongle was evil and crazy complex. Fairly complex CPLD that depended on system timing and in the end the emulator just can't fulfill whatever contract the software expects from the bus + the emulated dongle.
The dongle has already been reverse engineered in the last couple of years and replicas are for sale.
Is the software still attractive to use, after all those years, or why are you going to these extremes? Sounds it's somehow intimately intertwined with the dongle, if the check routines can't simply be patched.