It doesn't appear to be possible to link will call tickets bought on Travelocity to Disney's system.
I just returned from a stay at the YC booked via an awesome rate with Travelocity plus a 5% off code. When booked that, I went ahead and bought tickets through them as well as the 5% off code I had was off the entire package, not just room. Then I canceled the original trip I'd booked through WDW's website. I was able to link my hotel room to my account on WDW's site with the confirmation code sent from Travelocity via email. It *appeared* that I was able to link my tickets, but what I was seeing was a remnant from the original package I booked through WDW. My original hotel ressie went away from my MDE account a day after cancelling. The tickets did not...and though they allowed me to 'book' FPs, they weren't linked to my actual tickets (as explained to me when I called tech support when I realized that others on Dis who bought park tickets through Travelocity were not able to link those tickets to their MDE accounts).
I was able to personalize magic bands, though.
When I went to will call to get my tickets, I asked about linking them to my magic band. They suggested I go to guest support (a booth over) to see if it could be done. After standing in line there for a few minutes and listening to the problems others were having and how long it was taking to resolve various issues, I gave up and just used my card tickets.
Lesson learned: next time, the 5% isn't enough if I decide I want to use my magic bands to get into the parks...I'll just buy straight from WDW. However, 10% (which was offered through a code via Travelocity the *day* after I bought my package) might be enough of a discount to just use tickets.
I know what to expect next time. But maybe by 'next time', they'll be able to link tickets bought elsewhere into WDW's magic band system.
That said...regarding purchasing my room through Travelocity, it was a really good experience. I was able to link the ressie to my MDE account and check in online (I requested a higher floor close to transportation). My room was ready when we arrived (at noon), and it was AWESOME. I booked garden view and either got the best garden view at YC or was upgraded, so booking elsewhere didn't harm my experience. The next time we go back, I will not hesitate to book the room through Travelocity.