No, it is not too late. I tested directly when getting the second part (before talking to Arbiter), once you are in the World between and once you reach Arx. At first I had the same problem, but it turns out (as I learned from other sites) that you actually have to craft the item, with the schematic, the haft and the scythe/blade. Then you can talk to Almira and she will have a new dialogue option.
