Generally when people talk about master crafter they mean 9-traited all armor and weapons (given that jewlery is still relatively new they may or may not have 9 traited that, but they are probably close). I don't think it really says much about knowing consumables, but if you 9 traited everything, you probably know most pro recipe, all alc and enchanting. That's especially true since it takes most people one to two years to learn all 9 traits, but you can learn the consumable stuff in a weekend with enough gold.

I personally tend to think of Grand-Master crafter and Master crafter as two different things. That's mostly because learning true style master takes forever and doesn't actually affect your ability to craft at all (not in any tangible way at least). I guess there are some people that care about what style the gear is, but in my experience, most people only want training gear made as cheaply as possible. They don't want to add the couple hundred to couple thousand extra per piece to make it of a certain set.