I predict that she will be gifted to Fortuona as a personal damane/pet/slave/scratching post. Then, as time passes, they will discover that they are not really that different from each other (like Prince and the Pauper or something) and soon become pillow friends. Then Mat, Joline, Aludra, and Talmanes enter the scene and things really get interesting.

Oh, sorry, your question was about Liandrin. Hmm, well the fact that she's still alive suggests we haven't seen the last of her, but I think there's no telling when/where she'll "resurface" in the last two books. If I had to guess, Liandrin's downfall will come at the hands of the Wondergirls (or maybe Moiraine), but not Elaida.