In truth, she(?) is absorbing every word and will eventually convey it to her human keeper using gestures we would normally take to mean something like "I want to go outside" or "I have already peed on the rug, so if I don't look like I'm begging to go out, it will somehow look worse when the pee is discovered." Her(?) human keepers will understand it as a detailed account of what's gone wrong and where to go to set it right.
The sniffed boomerang, the tilt of the hat, and the short pants suggest this tale is unfolding on a soundstage meant to be Australia -- obviously a soundstage, for does anyone take that background seriously? -- because everyone there carries a boomerang at all times and dresses in that way. It might be a legal requirement, but by now, these habits are so deeply ingrained in the people that the legal requirement is superfluous.
Last and not least, that Lassie is sniffing the end of that boomerang with such interest can only mean it was recently inserted, well ... you have a rough idea of the range of possible places. It hardly needs saying that this relates to the dastardly deeds about to be foiled by her(?) intrepid ways.
(Image of "Lassie Sniffs the Boomerang" from the post titled "Lassie Sniffs the Boomerang" on Ludic Despair)