My 13 yr old son is 150cm and I have just built this for him
http://chinertown.com/index.php/topic,1763.0.htmlStand-over height to the top tube at the nose of the saddle is 695 mm and that is with 27.5 rims mounted with 2.2 rubber. Cranks are 170mm, as that is what was on the small Giant Boulder he was already riding.
He manages with no problems to date. Stand over is tight and will be until he has had his growth spurt but that is just teaching him how to get on and off properly and how to "bail" if needed.
BB height with 27.5 wheels is 305mm to centre of bb so depending on the length of cranks you use and the types of trails she will be riding you could fit 26" wheels to it.
Communitcation was great with the seller, frame shipped quickly and arrived quickly. Comes with headset, bottom bracket, seat post clamp, two sets of drop outs and spare frame plugs for cable entry / exit. BB feels reasonable quality but I didn't use it as I got a red one to match the other highlights. Taking into account what is included I think it is pretty good value.
Not many km's on it yet but so far, yes I would buy it again.
Hope that helps.