Definitely agree that there are a lot of variations in coloring vibrato; however, the way you describe it is backward from my approach: The more intense the vibrato, the more the entire mass of the arm and shoulder come into the string, right into the fingertip. (Not forced, just a shift in mass.) Yields a big, robust tone. For a lighter, more feathery coloring, I might shift the locus of motion below the elbow into the forearm. However, the natural motion of vibrato (in my physiological book, anyway) is a pivot around the axis between the finger and thumb, which implies that the motion comes from the arm.
If you look at JDeP and see how the entire instrument is buffeted under her intense vibrato, there's no way that energy could originate in the wrist. It may drive the wrist, certainly, but it's the entire mass of the arm that produces such great energy with ease and relaxation. (Hope I'm saying that in a way that makes sense.)
Here's how my first teacher, Murray Grodner, describes it in his book,
A Double Bassist's Guide to Refining Performance Practices (Indiana University Press, 2013):
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I enjoy these threads of discussion with you guys a lot. (Probably straying from the OP's original question, but the dialog and different perspectives are all very good and interesting!)
Chris