Yes. Mama Maria gave in and it's a morganatic marriage. If you read the the press release here
it's made clear at the end Rebecca won't be a HIH Grand Duchess by marriage but HSH Princess. Any children will be HSH Prince/ss and not HIH Grand Duke/Duchess.
GRAND DUCHESS MARIA OF RUSSIA
BY THE GRACE OF GOD
HEAD OF THE RUSSIAN IMPERIAL HOUSE
make it known to all that
Asking the Lord’s blessing, We are pleased to grant Our permission to Our beloved son and heir, His Imperial Highness The Tsesarevich and Grand Duke GEORGE of Russia, to enter into marriage with his chosen bride, the hereditary noblewoman Rebecca Virginia Bettarini, who, on 29 June / 12 July 2020, the Feast of the Holy Chief Apostles Peter and Paul, in the Cathedral of Ss. Peter and Paul in St. Petersburg, was received into Holy Orthodoxy with the name VICTORIA ROMANOVNA.
We deem it proper that VICTORIA ROMANOVNA should, from the moment of her marriage with Our son, have the right to use the dynastic surname Romanoff with the title of Princess and the predicate of Serene Highness.
Announcing this event, so joyful for Our heart, and entrusting the future of our Most August son and heir, H.I.H. The Grand Duke George of Russia, and his future wife to the almighty protection of the Heavenly King, with firm faith in His mercy, We have every confidence that Our countrymen will join their prayers with Ours to Almighty God for a happy marriage, prosperity, and the blessing of children.
Issued in Madrid on the 20th day of January in the year of Our Lord 2021, and in the thirtieth year since Our succession to the rights and duties of Our Most August Ancestors—the Emperors and Empresses of Russia.
As for why she chose Victoria as a name when she converted, it's after St. Victoria (probably a nod to her Italian heritage) and Grand Duchess Victoria Feodorovna, wife of Grand Duke Kirill Vladimirovich.It was that or the end of the Vladimirovichi line. I sincerely thought Maria would have chosen the end of the Vladimirovichi line rather than give in and let Georgie marry a commoner. It was pretty apparent none of his cousins through Great Aunt Maria or Great Aunt Kira were all that interested.
Rest I can't answer. It looks like George and Rebecca are living in Moscow full time while Mama Dearest is staying in Madrid. That should give them some breathing room. Must annoy Maria though that after all that sucking up in Russia she still can't get access to the Russian Nuptial Tiara for her soon to be daughter-in-law. They probably pushed their luck getting access to the Vladimir Palace for the wedding.
Oh yeah, after she made a big deal about their cousins' marriages and that they were the official Imperial family.