Wow. I really appreciate everyone's replies. I think the language immersion aspect of school was relatively challenging to my daughter at first, but now she's more or less fluent, and 40% of her day is in English, so I'm guessing that's where some of the unhappiness is coming from. She's probably only one grade ahead in Spanish language arts, and that seems to be pretty well accommodated. In English language arts, she pretty much just reads books, as far as I can tell. I think it's math and science that really are the most frustrating, so perhaps we can focus on more acceleration in those subjects in particular.

She's very much a third grader in every other way, so we're not interested in grade skipping. I'm not sure it would really help anyway, as she's already working above grade level.

Thanks again for the comments.