Badges seem to have personality of their own, sometimes they show up, sometimes only in replayer, sometimes they don't show at all. Have seen a couple of threads regarding this and have a friend that is always complaining about it too.
Since i have past the last two days trying to figured out why the other problem i reported was happening, why not check for badges too.
After recreating notes a good 10 times in the last couple of days, i sit down at one table and check for all players that should have at least one badge but none did. Opened HUD options in HM, unchecked "Show auto rate icon" and magic happens... 6 badges show up for 2 players in one single table.
Don't know if its a bug, if i get lucky, but it might help someone with the same problem.