It seems high enough to me, and you probably have the support and encouragement of the Algebra teacher, right? So call the gifted coordinator, or the Algebra teacher and keep asking reasonable logical questions.
You might also want to look into having your son take the SAT or ACT in the Spring to get a 'data point' that says to the world, 'here's a kid who needs something more than the general educational plan.'
Remember that 'gifted' is always in relation to the neighboring kids. It is possible - although unlikely- that 10 % of his classmates would have scored 268 as ll year olds, and in that setting it would be harder to make the case that he needs to be identified as gifted. But what else did they plan to do with him next year for Math? Repeating 7th grade math doesn't sound like a good plan!
Love and More Love,
Grinity
