Life in Eregion has been... tolerable, of late. It's not Valinor, but if she had wanted Valinor, she would have returned already. The challenges are stimulating. Running the jewelsmiths, coordinating governance with the other guilds, trade with the dwarves. Plumbing the depths of her craft without needing to be overly concerned with the tides of war outside the gates. There is always trouble, will always be trouble, but for now, it is not her trouble nor does it seem likely to become such.
She can create purely for the joy of it, experimenting, playing with material and magic and process.