Of course not. We know Graendal was one of earliest to go to SG to join the Shadow, very early during the Collapse. There were no Trollocs and Myrddraal back then.

The method to turn people was invented later by Semirhage during her experiments with Myrddraal, likely fairly late in the collapse if not during the War of Power itself.

The BWB explained what happened: before she joined the Shadow, Graendal turned to extreme hedonism. It was in reaction to the fact AOL society failed to meet her exacting standards and embrace the values of ascetism she preached. She made herself an extreme caricature of the very excesses she was preaching against. She changed the way she mader her point, but it was still the same point.

She's not changed that much, beside the fact she became fond of her pleasures over time. Underneath the smokescreen of the hedonist (it's largely an image she cultivates), she's still a freak of self-control, of order (her whole life is very organized, everything has its place in her palace and she loathes the "chaos" of the outdoors) and restraint who is extremely judgmental and critical (and often mocking) of how everybody else lives and how little they can control their pulsions. Her image has changed a lot, but her personality not much.