| My lab wants you to fast for 10-12 hours before the test. Once you get to the lab, they draw the baseline FBG (fasting blood glucose) and then give you a 75 gm glucose drink. Mine was orange flavored (ick, I hate orange soda) and, you're right, it is very sugary in taste. Although, you don't really get an opportunity to "savor" it as they want you chuggalugging it as quickly as you can.
Then you sit for 30 minutes before they draw the next blood glucose. More are drawn at the 1 and 2 hour times and, sometimes, the 3 hour marker. You'd be advised to take a good book with you so that you're not absolutely bored to tears sitting around.
They're looking to see how well your body can metabolize the glucose load from the drink. By most standards, any sugar over 200 will give you a diabetes diagnosis, over 140 at 2 hours is often called 'impaired glucose tolerance'.
Normally, fasting glucose levels over 126 will cause a physician to give a diabetes diagnosis. That's why I'm still blown away that your medical provider wasn't at all concerned about your fasting results of 133 & 127.  | 
