Does a Great Wolf De-Evolve if De-Leveled?

As the title suggests. my question is, does a Great Wolf de-evolve if it de-levels? I wanna know because I would be really interested in deleveling my great wolf to say, 40, to level me some OOP buffers lol... I know people will shun me for deleveling it, but its for my own good.. :) So yea.. any help is appreciated, and if anyone has done this same thing recently, tell me about your experiences with it. I plan to delevel as I said and run through Catas on my Cleric (Currently 30). The wolf will level back up with him as he goes.

I could only speculate, but I don't think that they de-evolve. Striders certainly don't at level 54, if there's a limit to how many levels they can lose then I'm not aware of it.
Don't Great Wolves take a smaller xp share than their weaker predecessors, though? It certainly seems that way when I xp mine. I guess that's not really a big deal at level 40.