They are still awarding them, but it can take a looooong while. I just received my 300k medallion about a month ago that I first requested in March. Call the Volvo 800 number and talk with a live human being: the woman I spoke with apologized, saying Volvo's fulfillment house had been deficient early in the year and they've got a better one now. She took the information and my medallion arrived about a month later.
Just be patient: they are worth the wait. My '94 850 and '87 760 each wear a 100k medallion, my '87 760 has almost earned a 200k, and I have a 300k medallion for my '81 240 (but I need to wax the car first).
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-- Bruce / '82 244 (315k miles!), '86 745, '87 760Ti, '94 854
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