Thanks Grinity. I'm supporting her decision not want to skip mainly because I think she will qualify for a magnet school starting 4th grade.
If we didn't have that option, I would be pushing for the skip or pulling her out for homeschool, whether she wanted it or not. No question. There are various reasons for this, but mostly, as much as I want to support her comfort level it's my job to step in when necessary and make an unpopular decision.
I know my child and I see the light in her eyes when she's doing a DNA experiment, a chemistry worksheet or challenging math. I feel peer pressure at school is not allowing her to be "her true self". It's fine for now because we are giving her opportunities to explore both of these sides of her dynamic personality. However, I don't feel a child should "hide" themselves in order to appeal to peers or teachers, so you can bet I'll be keeping a close eye on this.

ADDITONALLY: Thanks so much for responding, all, and for your support. I have to say I was Enraged Thursday night after the teacher cornered me at a school event to tell me about shelving the extra program for three weeks. I've had an e-mail back from her giving me a little more explanation on why this happened, it seems as if someone dropped the ball with scheduling. I also have a hard date as to when the program should re-start. This forum has allowed me to express my frustration and pull your ideas to respond in a reasonable and professional manner. Which, is hard for me to do when I'm very very mad.
However, I would have gotten nowhere fast if I went in there all guns ablazing.
So thanks again for keeping my honest and being a great sounding board.

Most sincerely,
Incogneato