I haven't seen the Tactical Knives article yet, but I sharpened about 5/8ths of an inch of the swedge on my Chinook maybe six months ago. It works great and there haven't been any problems so far.
Having a false edge on a folding knife is, of course, dangerous, but I personally don't think it's a big deal as long as you're aware of the risks. Some people might say it's "crazy" to have a folding knife with a back edge, but keep in mind that some people would argue that it's crazy to have a knife that folds, period.
As far as carrying it goes, there are safety features in place should you want to sharpen some of the swedge. The handle is shaped to cover the sharp part with room to spare. The strong backspring might hamper flickability, but it keeps the blade closed through mechanical force. Plus, the tip down carry keeps the knife closed through the force of gravity and also prevents your fingers from coming around the false edge when you draw.
There are a lot of places that outlaw carrying or concealing "dirks", "daggers" and/or "stilettos", but what they mean by these terms is anyone's guess. You have to look at case law, but I think it's something of an urban legend that double-edged knives are illegal throughout most of the U.S.. In fact, I believe I've only seen one statute that actually specifically outlaws double-edged knives.
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Cerulean
"The hairy-armed person who figured out how to put an edge on a suitable rock made it possible for us to be recognizably human in the first place." - J.K.M.
[This message has been edited by cerulean (edited 06-05-2001).]