Jamieson, Fausset and Brown on Exodus 24:11

11. upon the nobles of the children of Israel he laid not his hand--The "nobles," that is, the elders, after the sprinkling of the blood, were not inspired with terror in presence of the calm, benign, radiant symbol of the divine majesty; so different from the terrific exhibitions at the giving of the law. The report of so many competent witnesses would tend to confirm the people's faith in the divine mission of Moses.

eat and drink--feasted on the peace offering--on the remnants of the late sacrifices and libations. This feast had a prophetic bearing, intimating God's dwelling with men.