It's happening for most people. I posted it on the help page but Bungie hasn't commented on it yet. You can't re-enter the codes or find the emblems anywhere.
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Hopefully we don't get left in the dark for too long...
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Still no go on the promotional emblems and shaders
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Bumping for justice!
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FYI I received all of my emblems and shaders on Wednesday. A pleasant surprise.