Just wondering if I've misunderstood the requirements for the Deputy badge. (I haven't received it.)
Achieved maximum flag weight by reviewing and flagging appropriately.
Have I misinterpreted the requirements?
This was reported on Meta.SO and fixed today. The fix should be released in the next day or so.
I don't believe it's awarded right away. Most of the badges are awarded when a cron job on the system runs. For some things, like privileges, it happens sooner, but for badges like the Deputy Badge, it may take longer.
As you can see, you would be the first to receive it! Therefore, it's computationally intensive for this job to run continuously.
This is of course just my interpretation based on similar questions on Meta SO. If you don't get it in the next 24 hours, I'd suggest hunting down a moderator.