Alumni initiation is generally when someone who didn't go greek in college joins a sorority as an alumna, and it is a really rare and special situation. Taking alumna status is totally different (Chi O has a separate ritual-like ceremony for it too, I would assume many sororities do).
As for your initial question, I see no reason not to be an active alumna now. You are a tri-delta for life, why give it up? You are older and more mature than you were as an undergrad. What's the worst that could happen?
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To be womanly always, to be discouraged never
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