OK, so curiosity got the better of me. I went to Grady's site and downloaded the archived, 1997, brochure. In it, are pics of the 208 dash and side console - they are clearly a different color than the rest of the dash. I'd say they look to be a tan color? But looking at those pieces, they would be AWFUL hard to cover in vinyl given all the contours. HOWEVER, if they are vinyl, you should be able to verify by pulling out your cupholder and looking/feeling around the inside edge for the vinyl as it would have been cut then glued to the inside edge of the cupholder hole.
Sea Ray's had a soft-touch dash around the same time. I'm not sure how they were made, but they were NOT vinyl. At least not in the traditional sense that we are imagining here in this thread. I've never seen one of them turn pink, though
I bet that whatever Grady built those out of (or had built for them), it didn't fare well and that pink color you are seeing is, indeed, fading. If you look at the '99 brochure, they no longer use that tannish color. "Probably" because there were issues with it. But again, pulling the cupholder/instrument panel/etc should reveal whether it's true "glued on" vinyl, or not.
It may be worth while to contact Grady and ask them if a dye or paint would work on whatever material that is.