Here are a few things to consider as you try to make this decision:
Even if the grade skip won't give her what she needs in terms of challenge, it is easier for a classroom teacher to differentiate up one grade than it is to differentiate up two, and easier to go up two than three. One of the best reasons for a grade skip is for a child to have the opportunity to find other children who are interested and working on the same topics, to have the opportunity to feel "normal" with at least a few classroom peers. With even a single grade skip, you increase the chances that there will be another child or two who are working on or interested in some of the same material your child is, maybe even enough of them for the teacher to form a small group for differentiated instruction.
Does your child have good friends and an active social life with the children in the current grade? If so, are you willing to work a little to make sure that your child can still see those friends when the skip happens? If your child doesn't have good friends in the current grade, this is a strong indication that the classroom social fit is really poor, and is another good reason (in addition to "What a child doesn't learn" )to favor the skip.
Have you completed the Iowa Acceleration Scale to assess whether your child is a good candidate for a skip?
Sorry this isn't more coherent...very long day...but I hope it helps.
