I do not believe the embassy will deny your petition and her visa application based on your petition. Before, your wife was trying to come to the US as a non-immigrant while she had I-130 filed for her. Now, she is coming as an immigrant.
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The sister's visa and student visa do not invalidate your visa. It is not a basis to deny the visa you filed, the fact that her sister also filed or the fact that she was denied when she filed for a student visa.
The above is intended only as general information, and does not constitute legal advice. You must speak with an attorney to discuss your individual case.
We need ot know your immigration status and what visa you would be sponsoring your wife for. it may be problematic if you are sponsoring her for a nonimmigrant visa