Where is she now? Those with right of abode have to spend time in
UK (3 years, since you are british) before applying for British citizenship.
She should renew her Cdn passport in any event. Nothing she does with regards to UK will change Cdn citizenship.
She *should* have simply applied for UK citizenship from the start (unless her mother and father were not married, or her father was not actually born in UK); her choice to take RoA forces her -- I believe -- to go down that road. I do not think one can "renounce" or "trade in" right of abode for UK citizenship without going thru natuarlisation process.
But with right of abode, shs should not need a visa. RoA is unconditional.
If it is any consolation, if she natuarises her UK citizenship, she will hold UK citizenship
otherwise than by descent. This means if she tires of you, moves away from Britain and has a child, that child would be UK citizen. If she had taken UK citizenship
by descent earlier, her UK citizenship would not be transmissable in itself, she would nee to give birth in UK, or marry a UK-born/natuarized citizen).