As said, for me it looks like a sword cutting a knot, there is a Dutch saying "de knoop doorhakken" (litterally: to slash the knot) which means: taking a decisive action.
The intriguing thing then is: why this design and what was the reason? A decision by the young Princess Emma von Waldeck und Pyrmont to engage in marriage with the old widower King Willem III?
With some fantasy one can also see a fleur-de-lys in it, but that seems unlikely for an Orange-Nassau unless it was probably a gift by the then Duke of Parma (Prince François Xavier to Queen Juliana?