Dropsy is a sign or actually signs of several bacterial infections. The vast majority of times, those things happen because the aquarium's water isn't as clean as it could be. Maybe she will become well enough to drop fry before she probably does die. If I were to bet, I would bet no though. :(

After the water change, please click on the link to Immediate Help and read up on Cycling an Aquarium and then check out the sections on guppy breeding and caring for the fry. ;)

Guppylover427 also raises a good question. The guppy could have been pregnant. The fight against bacterial infections could have killed the fry or dramatically slowed down their development. Her body had other uses for her food. And female guppies have even been known to reabsorb fetuses.