I'm sorry to hear of your dog's problems, but in my opinion, you're on the right track. The cornea has turned cloudy due to edema as a result of inflammation. This is not necessarily a bad thing, since the inflammatory process is one of the first steps the body takes to heal itself. As healing progresses, you may notice that the cloudiness goes away, and you may see blood vessels on the surface of the cornea. Again, this is not abnormal, just the body trying to heal itself. When all is said and done, she may end up with a small white spot on her eye, which would be a corneal scar. Usually a small scar will not impair the dog's vision.
The good thing is that the cornea, or surface of the eye, is made up of epithelial tissue (the same type of cells as in skin). Epithelial tissue usually heals very rapidly, and so chances are good that she will be back to normal within a few weeks.
Hope this helps.