I would expect the Brazilian version to substitute a piranha for the wolf, right? "Once upon a time there was a girl who always wore a red carnival outfit, and who wanted to bring a basket of salted fish and fried bananas to her grandmother, who lived in hut in the Amazon jungle..." Once I finish the tree this will be the subject of my first attempt at writing some coherent Portuguese text!
I believe "grande" as "great" is still referring to size/scale. I'm not sure that phrase would make much sense in English. If we say "great teeth" it would mean better than good. I would guess to express that, "ótimo" would be a better word. Also, when grande is used as great, I think it generally goes before the noun (e..g, "um grande homem" - a great man).
Interesting as, "Long in the tooth" in English means "old":