Delay is a horrible word for two reasons (soap box moment). Firstly, it implies that the child will 'catch up'. Well it doesn't work like that. It also, I think, glosses over the difficulties a child has and once the child is 'delayed' it becomes an acceptable 'coverall' for some people, and instead of thinking 'why does this child struggle with x?' they start to think 'oh well it's no wonder she struggles with x; she has a delay'.
If I may clarify the terminology, that said, development delay is only a term given when a child is developing in the typical pattern but behind his/her peers. The term 'disorder' is given for a child who develops abnormally. So, for instance, a child who has a vocabulary in the 1000s but can't use adjectives will have a disorder, because even very young children learn to describe. 'Ball' ---> 'big ball', etc.
If a two year old can only understand 15 spoken words, that is not just a small delay. It also doesn't mean she isn't bright, etc. She can be a child with an IQ at genius level but have a difficulty with speech and language.
It's lovely that she's using eye gaze, intonation and gesture. They're all really good skills and will get her far.
Tbh, with the way services are, I would hang on to that 'delay' label for dear life and push for every bit of support going, because if they can get away without giving support, they will.
In terms of education, you need to make sure they are carefully tracking her progress now, so that you have evidence if she needs significant support in school. It would be a travesty if you thought she would catch up in her own time and then when it came to it, it was too late for support.
If she does have a significant S&L difficulty, she'll need some support at school. If it is considered to be a pure S&L difficulty, and her IQ is generally high, she may even benefit from a S&L place, but they are considered 'gold service' and very few children get them.