The newspaper reported that Blackwater president Gary Jackson said the plane would be used for training
I should think so, given that it is a trainer and not by any stretch of the imagination a 'fighter'. Even by Foxnews standards. That is taking the proverbials.

It's a basic trainer for the military. The RAF use a modified version for it's training. You can hang things on it for basic counter insurgency work. Rockets and the like. But it's slow enough to be shot down by most anything any guerrilla army has at it's disposal. And in any case, how likely do you think Embraer has sold it ready to drop things?
Nevertheless, exactly what Blackwater intends to do with a strictly military training aircraft is interesting. Could it be simply a training machine intended to simulate air attacks?