That doesn't make sense, though. Without Greater Grapple, you need to establish or maintain a pin each round, and that normally costs a standard action. I think the round 1 action economy is less controversial: standard action to establish a grapple and a move action to establish a pin (as Greater Grapple specifically calls out a pin on the move action grapple check). The second round action economy, however, centers around whether, with Greater Grapple, you can maintain a pin twice in a round (thus triggering the blood drain ability). Note that while maintaining a pin twice is not necessary, I'm having a problem find anything that states you can't.