Keeping these rules in mind, I still believe that this can be a good option for a capable high school student who is not being challenged by the local curriculum. I think that if possible, the high school student should still have the opportunity for participation in high school extra-curriculars.
Interaction with age peers is still quite valuable for your daughter. If all her time is spent with older teens and adults, she may develop a sense of being less capable than them (even if that is not the case!), which is not helpful for her self-esteem. I am assuming from your question that your daughter will be attending college as a commuter student while still living at home.
The Program for the Exceptionally Gifted at Mary Baldwin College in Virginia houses young teen girls on campus while attending college. They ask that the students have exceptional emotional maturity, so that they may succeed in the college environment at such a young age. In addition, they house all the young teens together to provide additional physical and emotional security.
If your daughter has some reservations about taking this step to college, perhaps she should meet with one of the college's counseling staff to discuss her concerns. If your daughter's personality is flexible and somewhat mature, I suspect she will do well in a college commuter situation. It's a big step, but its success eventually depends on the individual student. Thanks for your question. Good luck.