TBF
I think Vlad was actually the masked one of the Trio.
Something a Rioter said made me think this more than LB. They noted how their position is Guile. Sure, that makes LB obvious. But their mask is also feminine, which could be a throw in a different direction because you know...guile. Pretending to be a lady in robes when it's really Vamp Lad.
I also think Swain wants to keep LB close, but not THAT close. Swain created the Tri-whatevera for a reason, so that no one person could ever be in complete control. But then his right hand man - Darebear - is another member of the Tri-euphoria. Naturally as his right hand man Darebear would side with Swain over LB. LB would be too dangerous to ever have Darebear side with her over him. Swain wouldn't make it that simple for LB to have power - if she wants it she has to take it and earn it.
But Swain also truly believes in the Tri-whatevera. He didn't set it up so that Darebear would only agree with him. But agreeing with LB over Swain would be too dangerous considering her immense power and influence. So I think it's someone else under that mask, not LeLeBlanc.