I've been compulsively checking the DVC member site these last couple of days for the contract we closed on a week ago. The contract has shown up now, but the points aren't there yet. Is that normal?
Yep. Two different back office groups handle different aspects of this. "Group one" has finished their part. Check again tomorrow - your points will probably show up online tomorrow.
As the previous posters have said, your points will show up in your account. It usually takes up to 48 hours from when your name, address, etc was entered into the DVC system for the other department actually enters the points into your account.