If there was no risk of harm to the child, yes, I would. I am five feet tall and have no children, but imagining myself in that situation, I would have liked my child to be closer to average height - not tall, necessarily, just not very short.
There are some disadvantages to being short, even if female. For instance, some people talk down to you in more ways than one - you find yourself waiting for them to pat you on the head and offer you a popsicle. Try to join a conversation at a party and you get left out of it - you're not in their line of vision! You have to be more assertive to get noticed. Then people think you have a Napoleon complex.
You are constantly looking up at people's double chins and they are looking down at your dandruff, or dark roots, or even your bald patch, whereas for social purposes its much more helpful to be roughly at the same eye level. Eye-to-eye contact is more conducive to communication than eye-to-chest contact.
Then there's the problem of everything being designed for taller people - kitchens, sofas, clothing, cars. How embarrassing it is to sit back on someone's sofa and find your feet don't reach the floor:)
However, to be serious, health is probably the only real justification for messing with someone's DNA. If you did it to improve appearance, where would it stop? People with faces as ugly as frogs would be having their kids genetically engineered to look like movie stars, or even worse - reality T.V stars. There would be streets swarming with clones of Kim Kardashian and Paris Hilton, walking arm in arm with replicas of Brad Pitt and - heaven forbid - Justin Beiber. We're probably better off staying as we are.