In this photo it is very easy to see that this is indeed the "modern" style of cameo.
Her necklace is hanging in behind the cameo, I personally do not believe the cameo is part of the necklace but is pinned to the dress.
Here's another little thing that I thought you might find interesting. It's a story from Putnum's Magazine. August of 1856, the opening paragraph reads as follows.
I woke suddenly out of a calm dream, and, lifting my head from the pillow to see what aroused me, I perceived the eastern window of my room uncurtained and thrown wide, and the beautiful head of my cousin Eunice leaning out of it; her tangled brown curls just vailing the exquisite profile that was cut like a cameo upon the red morning sky.
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