Would it really matter if she is or isn't?
I love Grace, but I'll be the first to say she's done fuck all for PINK, plus I feel she doesn't fit PINK at all, she's more of a mainline type of girl, and even then I feel that she would come across as mediocre, but not because Grace is a horrible model, but because VS is a horrible lingerie company who has sucked the life, creativeness, energy and sexiness out of their shoots... which isn't necessarily their fault because after all they're trying to cater to a more politically correct feminist group of shoppers that want women to be empowered and not have to "dress up" to feel sexy, and have stopped catering to what men/women want to see in the bedroom. Youth gone wild is Youth who killed the brand.
Fun, playful, granny panties & cotton fabrics do not and will never beat a push-up, corsets, garters, and raw sex appeal bordering on raunchy. (in the bedroom)
Plus really boring photographers OMEGALUL