No, she really doesn't. Here's her dialogue:
When first met:
Are you…the next monarch? Or… Merely a pawn of fate? Bearer of the curse… I will remain by your side. Till this frail hope shatters… Take this with you. May it ease your journey. Go on, and see the King. He who made Drangleic what it once was; he who peered at the essence of the soul. King Vendrick.
This isn't useful advice.
When talking a second time:
Bearer of the curse, seek misery. For misery will lead you to greater, stronger souls. You will never meet the King with a soul so frail and pallid.
Useless.
When talking a third time:
Seek those whose names are unutterable, the four endowed with immense souls. Their souls will serve as beacons. Once you have found them, return here to me. So that hope will not fade away.
Not really helpful.
When talking to her to open the interaction menu:
Bearer of the curse… Seek souls. Larger, more powerful souls. Seek the King, that is the only way. Lest this land swallow you whole… As it has so many others.
Useless.
When talking to her to open the interaction menu while holding an Estus Shard:
Is that a shard you've found? Here, let me see it. So that I may help you. To see light, to see hope… However faint it might be…
Annoyingly written dialogue. Atleast she performs a useful action here.
When talking to her to open the interaction menu after obtaining a Great Soul:
You have acquired the soul of an Old One. That is more than most Undead can say.
Completely useless.
When talking to her to open the interaction menu after obtaining two Great Souls:
The soul and the curse are one and the same. Your soul has grown stronger still. I only hope it brings you what you wish.
The soul and the curse are one and the same? What? What happened to all the people in Dark Souls 1 who had souls but weren't cursed?
When talking to her to open the interaction menu after obtaining three Great Souls:
Proceed, bearer of the curse. It is the only choice left to you.
"Proceed." Very useful, Shanalotte.
When talking to her to open the interaction menu after obtaining the Four Great Souls:
You are blessed with a myriad of souls. Bearer of the curse, make your way to the castle.
She doesn't tell you where the castle is or how to get there, so it's still useless.
When talking to her to open the interaction menu after going to Drangleic Castle:
Bearer of the curse. I will always be at your side. Until hope has fully withered…
Useless.
Using 'Talk' option:
Over the hill and past the forest is the King's castle. Where a man peered straight into the essence of the soul. But what ever came of it…
Useless since there's no indication which hill or which forest she's talking about unless you've already been there, in which case this would be useless anyway.
Using 'Talk' option:
Those who come to Drangleic seeking salvation soon lose hope, and turn Hollow. It happens to them all, sooner or later. That blue knight at the base of the tower… His spirit is already broken. Although he does offer sound advice. Perhaps he is a foreshadowing of your own future?
Perhaps they shouldn't write the main companion character to be so annoying and useless if they want her to be likeable. Perhaps they shouldn't make the DS1-copy-paste-character more useful than the most important character in DS2 if they didn't want people to think Dark Souls II had bad characters. Why is DS2-Crestfallen not a hollow if he's completely given up hope, anyway?
Using 'Talk' option:
That tiny thing inside the ruins… An ancient being that will mock your very existence. She imparts sound wisdom. Provided you find her on a good day…
Hey, another Dark Souls 1 character! And thanks for the advice, Emerald Herald. I definitely needed direction in the smallest area in the game. I'm glad they didn't spend that money for dialogue that would actually be worthwhile to listen to.
Using 'Talk' option:
The sign you bear will drain your very souls… And without souls, you will turn Hollow. Stay strong, do not lose hope. Even when you have precious little time.
I mean, no, that's not really true. You can have 0 souls and be completely Human, or millions and be as Hollow as possible. There's no connection between the two mechanics. Thanks for trying I guess?
Using 'Talk' option:
For when the Undead dies, it is never truly dead, but only one step closer to Hollowing. Not all Undead are Hollows, but all Hollows were once Undead.
Thanks for the insanely-basic-information-dump. Really helpful. It's great that you think I can't figure that out on my own, DS2-team.
Using 'Talk' option:
If you find an Estus Shard, bring it to me. So that I may ease your burden.
This is actually fairly useful.
When met outside of Drangleic Castle having opened the Shrine of Winter through Soul Memory:
Your soul is still frail and pallid… If you proceed regardless, your fate will be more terrible than mere life or death. But I will not stop you, if that is your heart's desire.
Is she being intentionally written to be stupid and passive-aggressive? Even if you're terrible at the game, your fate won't be "more terrible than mere life or death," whatever the hell that's even supposed to mean.
When met outside of Drangleic Castle having obtained the four Great Souls:
This castle is isolated. But nonetheless, you must forge on. To bring an end to your journey…and mine.
Okay? I don't even know what the point of this dialogue is supposed to be.
When met in the Undead Crypt:
This ring is the symbol of the King. Use it to gain passage, through the King's Gate… …and venture to the far east… Bearer of the curse, if you are to be the next monarch, Then, one day, you will walk those grounds… …without really knowing why.
You have no way of knowing what the "far east," is supposed to mean, and that "without really knowing why" bullshit that's repeated so often in Dark Souls II is some of the dumbest, most infuriatingly bad writing I've ever seen in anything. Maybe if you were competent at telling a story, we would know why.
When met at the Dragon Aerie:
Bearer of the curse. Long have I awaited one such as you, one who might shatter the shackles of fate. One who can set me free. Bearer of the curse, it was my own manifestation that led you here. The ancient dragon has watched over the world for aeons past. Take this. Do not resist. The dragon welcomes you.
I'm not sure if this is supposed to be some kind of plot twist when she reveals that it wasn't actually her appearing in all these locations, but if it was, it was pretty poor. Using the same character model and same voice, she just says "that was my own manifestation that led you here. It doesn't make any difference whether she was just teleporting, like you may have assumed early on, or if it was some kind of body projection like she claims. It's not a good twist or really any kind of twist. I'm not sure why it's there.
When met at the stairs leading to the Throne of Want:
My journey is already complete. My name is Shanalotte. The dragon gave me this name, for I was born with none. I was born of dragons, contrived by men. By ones who would cozen fate herself… They are the ones who created me. But they failed. I did not come out as intended. Fate would not be bested, and men were cursed once again. If you proceed, Nashandra will come after you. Knowing that you will take the throne, and link the fire. She covets the First Flame, and the Great Soul. Put Nashandra to rest.
I get that you want Nashandra dead, Shanalotte, but I have no idea what you're talking about.
Ending voice-over:
You, who link the fire, you, who bear the curse… Once the fire is linked, souls will flourish anew, and all of this will play out again. It is your choice…To embrace, or renounce this… Great Sovereign, take your throne. What lies ahead, only you can see.
WE COULDN'T THINK OF A NEW STORY SO CYCLES!