also keep a close eye on the plant to see if it is stabilizing or declining with the new watering regimen.

It may also be lighting........where are you keeping this plant? Is there sunlight and/or very bright fluorescent light on the plant?

I would get it in some light........perhaps slowly so it doesn't burn, but Sans in darkness will fade like that too. Dehydrated plants usually overall looks shriveled and will start shedding leaves, usually the oldest, with time, but the quickness looks like a plant that is light starved to me.

Plants can' live without light for photosynthesis