Hi: we did it last January. The area that you can stand and look out at the pool area is quite close to where one of the groups does the extreme swim. that will provide her with a close view of the dolphins. The observer status has a fee to it though, so be aware of that. It was over $50 I believe - my dad didn’t want to swim with them so he came and watched.
As a word of caution, the caymans dolphin excursion is the least enjoyable of the dolphin excursions that we have done.
It is still cool, but everything you do is geared towards making a photo so that you can buy a package for an unreasonably high amount of money. Every time you get to interact with the dolphin, the emphasis is on looking at the camera and getting a picture, rather than getting to enjoy your 10 seconds with the dolphin.
this is just our opinion, but the dolphin adventure at Cozumel was a much better experience than Grand Cayman.