I've always wondered what method works best when using glow maps. I'll take your word for it Ghogiel.
But if you decide to color the glow map texture instead of the emissive property... what color should you set the emissive property to in Nifskope? White or black perhaps?
White emissive and control mask power and tint via the glow map itself. Coloring the emissive material property dulls the emissive strength more so than coloring the mask. other than that there isn't a whole lot of difference, except you can have multiple colors on the map- you can only have one color in the material.
Which is handy for retexture, just set up a new texture set without need to copy the mesh just to make a change the material.
Also The Emissive Color is combined with the Glow Map Color so a Red Emissive and a Green Glow Map will produce a Yellow Glow and any other color combination mixture from the two sources.
It won't look very yellow imo. pretty much an exact example of that case, with a white diffuse map will look like box #8 in this image http://i25.photobucket.com/albums/c85/lego-botz/other/GLOWMapInteraction2.png
random experiments i made one day on emissive material property behavior.
http://www.gamesas.com/index.php?/topic/1111249-glow-map-interactions/page__p__16293251entry16293251