Yes, all RFCs and RCCs are stored on the server in the same order they were originally sent out. Once all RCCs and RFCs arrive, TNManager.isJoiningChannel will be set to 'false' and OnNetworkJoinChannel will be sent out. Note that Start() and Update() functions can and will execute in between of packet arrival and OnNetworkJoinChannel, because packets can and will arrive spread out across several frames.
This is why it's important to check TNManager.isJoiningChannel or waiting for OnNetworkJoinChannel() before sending out anything and/or doing any game-specific logic such as creating player avatars.