Well, I don't know much about the Grunfeld, but Black could probably always win it back (say with 10...Qa5), if he wants to, and then White will have lost his strong pawn center.
One moment White has a c3/d4/e4 pawn center, restricting the Black pieces, always threatening to advance one of the center pawns driving Black's pieces away; then after d4xc5 I just see a bunch of weak isolated pawns on the queenside.
Many of the ideas have already been covered. There's the c5 break, an e5 break, and an f5 break (in that order) ... keep those moves in mind. The idea is to destroy or comprimise the white center. Take a look at my blog "A small giant" for a positional look at the gruenfeld.
I see the battle is over White's d4 pawn for the most part...but could someone explain what happens if White just decides to take Black's c pawn?