It’s a lovely tribute to have your name as part of the baby’s name, I’d just try and take it that way if you can. If I said anything, it would be very casual, wondering why the names had been swapped round - I’m sure there’s an explanation other than ‘We decided Other Granny is more important than you!’
My gran was very superstitious, and believed if a child was named after a relative, the relative would die - so there was no naming babies after grandparents in my family! My husband’s family have a family surname which is handed down as a middle name, and we gave that to our sons as a middle name, and the son who has children has given them all the family middle name. It’s a family tradition, so it didn’t really bother me one way or the other.
I hope you can enjoy your grandchild, despite your hurt feelings. At least they haven’t dropped your name!