for the 300% xp to take effect, your team (in your case, toonA from the vet/referrer account and toonB from the raf/referee account) must be within range of each other when killing mobs and must be partied or in the case of handing in quests, both toons must be present upon turn-in.

you don't have to get the first toon in the referee account to 60 to be able to grant a level. a referee toon can grant the level or levels that it has gained if the receiver is not equal to or higher than their own level or past 60.

might i refer u to the RAF ultimate FAQ:
http://forums.worldofwarcraft.com/th...8748&sid=1
http://forums.worldofwarcraft.com/th...amp;pageNo=1#4