Interestingly, the crown prince has not revoked her royal title, "Mom", which translates roughly as "princess", nor yet her use of the royal family's name, Mahidol na Ayutthaya.
These are officially bestowed by King Bhumibol Adulyadej, and it would need his approval for them to be revoked. However if, as expected, the crown prince divorces Princess Srirasmi, she will almost certainly lose both titles. The future status of her nine-year-old son by the prince, Dipangkorn, will depend on his father's wishes.
Titles matter a great deal in status-obsessed Thailand, in particular when it comes to those with a claim to the throne.