Hi
you are right, in Workflow Configurator you can go 1 level up (only),
so if you are on Child entity you can see parent entity, you can not see the parent of parent entity (Like in AdvancedFind).
if you want to achive this you have to develop\write workflow custom activity .
As an example you can see
http://crm2011sharestep.codeplex.com/
Many Thanks -Bhautik Desai xRM Technologies