Diagnoses of LD and/or dyslexia aren't made just based upon IQ, no matter what the level of IQ is - was there other testing done to look for dyslexic symptoms?
There can be all kinds of reasons that you'd see a drop in IQ... no matter what the actual reason eventually turns up as, I would use this drop combined with the school district determination that your dd does not have an LD that was previously diagnosed as an LD by a private provider as a compelling reason to request that the district grant you an Independent Educational Evaluation - i.e., another eval usually through a private provider that the district pays for.
What's your gut feeling? Which set of scores do you feel represents your dd?
polarbear
ps - my dd7 recently went through a dyslexia screening - I suspect you have a good idea of which tests are involved based on your dd's previous testing, but if not and you would like a list, let me know, I'll be happy to post the types of screening that she was given. IQ and achievement testing were part of it, but only one piece of the overall screening.