Not exactly - Martin seems to me to be confusing that creates the one with the process that creates the other. Moonson is not Red Emperor until he takes the Ten Tests, becomes Padishah, etc. But the process by which Moonson is reformed is quite different to the one by which Moonson shows that he is truly the Red Emperor.
It is possible that Moonson might return and fail to become Red Emperor. Its never happened, and I don't think it will (it seems he fails to return instead), but its important to understand this possibility to understand the process.
Cheers David ------------------------------
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