They stopped before Leia, and Luke recognized General Dodonna among the other dignitaries seated nearby. There was a pause and a gleaming, familiar Artoo unit joined the group, moving to stand next to a thoroughly awestruck Threepio.
Chewbacca shuffled nervously, giving every indication of wishing he were someplace else, Solo silenced him as Leia rose and all those gathered in the great hall turned to face the dais.
She placed something heavy and golden around Solo's neck, then Chewbacca's--having to strain to do so--and finally around Luke's. Then she made a signal to the crowd, and the rigid discipline dissolved as every man, woman, and mechanical present was permitted to give full vent to their feelings.
So he originally DID recieve a medal! They just must have forgot to film it. Well that should make all you whiners happy for now. But at least you can point this passage out to GL when he does the 2007 reshoot...
Also, there's this old Star Wars children's book I read when I was in 4th Grade. I don't remember what it was about, but whatever Chewie did in that book, he certainly got a medal for it, because I at least remember THAT.