29 Heb “he did not stretch out his hand,” i.e., to destroy them.
30 The verb is חָזָה (khazah); it can mean “to see, perceive” or “see a vision” as the prophets did. The safeguarded this by saying, “appeared in the place of God.” B. Jacob says they beheld—prophetically, religiously (Exodus, 746)—but the meaning of that is unclear. The fact that God did not lay a hand on them—to kill them—shows that they saw something that they never expected to see and live. Some Christian interpreters have taken this to refer to a glorious appearance of the preincarnate Christ, the second person of the Trinity. They saw the brilliance of this manifestation—but not the detail. Later, Moses will still ask to see God’s glory—the real presence behind the phenomena.
31 This is the covenant meal, the peace offering, that they are eating there on the mountain. To eat from the sacrifice meant that they were at peace with God, in covenant with him. Likewise, in the new covenant believers draw near to God on the basis of sacrifice, and eat of the sacrifice because they are at peace with him, and in Christ they see the Godhead revealed.

In other versions

And he did not lay his hand on the chief men of the people of Israel; they beheld God, and ate and drank.

But God did not raise his hand against these leaders of the Israelites; they saw God, and they ate and drank.

God did not harm the Israelite nobles; they saw him, and they ate and drank.

And though these nobles of Israel gazed upon God, he did not destroy them. In fact, they ate a covenant meal, eating and drinking in his presence!

And toward the leaders of the Israelites he did not stretch out his hand, and they beheld God, and they ate, and they drank.

And upon the nobles of the children of Israel he laid not his hand: also they saw God, and did eat and drink.

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