Lately I've been skeptical about tracking information (in general, not Magic Band specific).
I ordered something to be delivered to a store. Tracking said it got to the store, then went back to the FedEx location. I went to the store to ask and there it was.
I have had things delivered before the tracking website even said "out for delivery."
So don't give up hope about the Magic Bands being delivered.
If they are not delivered, I have heard that Disney resorts have different colors of Magic Bands behind the front desk, not just the grey ones.
Since you ordered premium bands, maybe take a screen shot of the tracking history in case you need to request a refund.