I think it's possible to explain giftedness, the concept of being a fast learner, etc without going overboard with "Oh, you're so smart!!!" all the time. That is, you can tell your child he/she has a high IQ without constantly praising for intelligence in isolation from effort, which is what the Dweck/NurtureShock findings are about, IIRC.

And again, I do think you don't want to go too far the other way and make the whole thing super hush-hush, like The Subject Which Cannot Be Named.