Absolutely. I've run some tests and a threshold of .25 is the most profitable. It surprised me that the default setting was the best one for once.
EDIT: That's only under my trading conditions actually. You'd have to test for your specific EMA and time period.
Do thresholds really work in general? I'm not sure I'm convinced they prevent fake-outs.
Mostly on hourly charts. Daily rarely crosses over so the impact is much less pronounced. What EMAs are you trading? I can find you the most profitable thresholds.