Attention guardians!
Don't make the mistake I did!
Only purchase tempered when you have some free time this week to make the most out of it's 12 hour effect. Once you purchase it the effect begins immediately. IT IS NOT A CONSUMABLE.
Announcement complete.
Now beginning bitching phase.
I bought tempered this morning when I woke up, ten minutes before I had to leave for work for the next 8 hours. To my horror I couldn't find it in my consumables. Sure enough, the 12 hour countdown effect had begun. "AWWWWW REALLY!?!" is probably what woke up my entire apartment building this morning.
I realize I should've looked into it more before I bought it but I do think some of the blame is at Bungie for this one. First off, every other effect besides the nightfall and buffs like weapons of light, etc is applied by using a consumable. It's not that much of a jump to assume tempered would have been the same. The track record is there. Also, when purchasing something, you expect it to be an item you are buying. Every other thing you can purchase in the tower can be viewed in your inventory somewhere.
The fact that bungie didn't give any info on bungie.net or in the in-game item description that this was a purchasable EFFECT and not an ITEM is very poor communication.
This item (effect???) was meant to be the saving grace for those who could not play iron banner all week. Maybe they could only play this weekend. Imagine how horrible some of those people will feel when they purchase tempered today or tomorrow hoping to use it when Saturday rolls around.
TLDR
Poor communication on the part of Bungie explaining how tempered works, how tempered is applied and how tempered is purchased
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Once 12 hour buff is up you can rebuy it so it doesn't matter