Cathy and Master Of None, thank you so much for your additional advice.
Master Of None, unfortunately I am not familiar with their terms. I'm trying to track everything she is doing, but she reads so much I can't keep up! I've just been using grade level equivalents from Scholastic's book wizard. I appreciate your advice on how to approach the teacher. I do have a tendency to be either too wishy washy or too unyielding depending on how annoyed I am.
I can't believe they recommended a grade skip based on only your DD reading one book, LOL!
On a side note, I received our welcome packet for kindergarten today and they had a sheet on preparing your child for K. It talked about teaching them their letters outside of the sequence of the alphabet song, teaching colors and doing basic counting when climbing stairs! All I could think was Oh. My. God. And my daughter was telling me "I *love* fractions" today at bedtime as she grabbed a book on them for bedtime reading. At this point I have no idea what to expect...