Regrettably, I have never smelled vintage Emeraude. Perfume critic Luca Turin has a good discussion of Emeraude in his new book, the little book of perfumes. He says there's no relation to the current version. He describes vintage Emeraude as "After eight", that is, a fresh-minty note over an opulent oriental ambery base.
As for who did the first oriental, I don't know, but I suspect that the combo of ambers and vanilla had been around for a while and predated both. Certainly it wasn't Shalimar - Shalimar is simply the oldest surviving one, Coty and most other perfume houses having disappeared in the meantime.