Well, I have tried this. And, you don't get a bad egg suprisingly. And if you don't believe me, then try it. If doesn't work, well, I would just consider to save before you look at the egg.
>Dangers
One step after it hatches, the Bad EGG will hatch, and your character will say what is specified in the above section. The game will go completely black, and the battery will have run dry. Whether there is a way to get rid of it or not is unknown, besides the fact of starting a new game.
Source
Hope this helps! :)
