So I've been playing Iron Banner with relatively no problems, which I am very happy to report. But I've had a few encounters with players that have such horrible connection, (and I know this because they had red bar next to their name) that the damage I do to them doesn't register immediately or at all. I've only encountered two players that take no damage what so ever from anyone. One of them is on PS3 goes by "Yoursillyplebeian" who is only level 25 and I'm level 30... I don't know whether Bungie takes hacking/glitching seriously or what, but there is no way 2 level 30s are doing no damage to a level 25 in iron banner what so ever...
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I have experienced the same problem a couple of times on the 360. I have also seen a party/fireteam come into a game and all of a sudden everyone else's connection bar went red except theirs.