It's not a junk test. It is considered an individual IQ test and is probably going to give you more accurate results than a group ability test like the CogAT or the OLSAT.
Those are very high scores with what looks like a strength in visual spatial and mathematical areas. The verbal score is still gifted as well. She will probably be more able than most children in school gifted programs, however, as most kids in school GT programs tend to cluster in a composite or full scale score range of 125-135, depending on the school and their specific admission standards.
If you are looking to get her into a specific program like DYS, you may have some luck with going the portfolio route. They will probably require further IQ testing on the WISC-IV or SB-5, but you may get some help with the cost of testing if they think that she is eligible.
Did the school psych give her any achievement tests that would be acceptable by DYS? That would further her chances of getting into DYS via portfolio probably if she had qualifying achievement scores. If not, I'd still give a shot with the portfolio or do further testing yourself if you want to go the non-portfolio route.
