How much insulation did she eat?
How many days ago exactly?
What size dog is she?
I cannot say whether or not she has a blockage for sure. It is true that since she is pooping it makes a lower intestinal blockage less likely, but it does not rule out a blockage.
You must remember that fiberglass is actually like tiny pieces of glass and they may be or have, seriously damaged her GI tract. With the fact that she has vomited so much it is unlikely that it is still in her stomach and that you aren't seeing any blood in her vomit is a good sign. I would still worry that the fiberglass is damaging the beginning portion of her small intestine. This could cause a rupture or even a small laceration to the wall of the intestine allowing bacteria/feces to enter her abdomen. Setting her up for peritonitis.
Also she could be suffering from pancreatitis secondary to the abrasions/damage to her intestines from the fiberglass.
If you have access to a emergency clinic tonight I would take her. They may be able to stabilize her overnight for you to be able to get to your own veterinarian tomorrow (thus avoiding a huge bill).
The situation could get much worse quickly and I don't feel comfortable telling you to just watch her until tomorrow.
I hope I answered your question fully. I hope it is nothing more than pancreatitis but if it is something more she could go downhill quickly.
If I can answer anything else please let me know.