Um, no, it didn't make her submit, just made her lose her power. There may have been occasions where she was also mind-controlled or something, but the fact that she willingly fought against that to escape means she wasn't submitting. So, no, you are incorrect in this. You seem to be mixing this up with the lasso's powers, which Wonder Woman often used to make people do as she wanted (it may have been used against her at some point, too, I don't remember).
And also, where are you getting that Marston and his wife's mistress was submissive, exactly? I've read about this subject to some degree, and I don't believe they were that open with who was what in their triangle.
Her weaknesses have be tweeked from time to time, but it used to be that if she was bound until she got free she would have to submit.
http://www.williammoultonmarston.com/
A few points about his life, and yes I'm drawing conclusions based on some things, but as someone that plays a bit in this world I think I have a good idea of what was most likely going on. A few quotes about women and submission:
Marston was also a writer of essays in popular psychology.
Marston posited that there is a male notion of freedom that is inherently anarchic and violent, and an opposing female notion based on "Love Allure" that leads to an ideal state of submission to loving authority.
Marston used a pen name that combined his middle name with that of Gaines to create Charles Moulton. Marston intended his character, which he called "Suprema", to be "tender, submissive, peaceloving as good women are," combining "all the strength of a Superman plus all the allure of a good and beautiful woman."
These elements were softened by later writers of the series. Though Marston had described female nature as submissive, in his other writings and interviews he referred to submission to women as a noble and potentially world-saving practice, leading ideally to the establishment of a matriarchy, and did not shy away from the sexual implications of this:
"The only hope for peace is to teach people who are full of pep and unbound force to enjoy being bound ... Only when the control of self by others is more pleasant than the unbound assertion of self in human relationships can we hope for a stable, peaceful human society... Giving to others, being controlled by them, submitting to other people cannot possibly be enjoyable without a strong erotic element."
And one about male submission:
About male readers, he later wrote: "Give them an alluring woman stronger than themselves to submit to, and they'll be proud to become her willing slaves!" (These themes were among many that motivated Dr. Frederic Wertham's hostile criticism in Seduction of the Innocent, the quality of whose own core research has itself subsequently been questioned.)