Graendal did not know that Demandred was in Shara, she was really annoyed in one of the later books that she knew what every one of the Chosen did, except him...
It is quite possible that RAND was supposed to be Bao the Wyld, but that he never got that far :look Seeing as he is Dragon reborn, Car'a'carn and the Coramoor already :p
But it is also possible of course that Demandred was the Wyld, and was finally made a hero somewhere, like he wanted...