She's pretty young and it was a good idea for the ultrasound. Has she seen a gynecologist yet? Might be a good idea to get her an appointment for another opinion, I'm not saying it is anything you need to worry about but to ease your mind and I sense you are worried about her, the gyno opinon can give you peace of mind.
No, I wouldn't be terribly concerned especially at her age. These hormonal changes are quite common in both young women and young men. There is also a possibility that something like this could be a Fibroadenoma which would also be of little concern but you state that the Ultrasound diagnosed it as dense breast tissue. If you are still concerned you might consider seeing a Breast Specialist who would review the films and examine your Daughter as well. Regards ....