A 26-25 win over Western Force in their last match before a bye week left them mid-table in the Australian conference as the season's halfway mark approaches, defying forecasts of a winless first year, while keeping their slim playoff hopes alive.
Although their form has buoyed the small minority of rugby fans in the Australian football-obsessed city, their World Cup-winning coach Macqueen was loath to share in the enthusiasm as the Rebels contemplate a season-defining month ahead.
"We can't be happy with where we are at the moment," said Macqueen, who has steered the Rebels to a 3-4 record after eight rounds including last week's bye.
"We've got to aspire to be much better than that and that's what I want this team to be and that's what the team is at the moment," he told reporters near the team's training base in a leafy inner-city suburb.
"We really haven't come off the field yet satisfied with our performance and I hope the day will come soon where we can actually come back and say we really did everything we really set out to do.
"Look, we're still in development mode, there's no doubt about that, but if we can keep on improving and (reaching) our milestones every now and then we'll be happy."
Chief among the Rebels' transgressions have been their slow starts, and the side was made to labour for their first away win over Perth-based Force after conceding a 15-3 lead in the first quarter.
That followed their 42-25 victory over the struggling Wellington Hurricanes after coming back from 17-0.
"We're doing it on purpose so we can come from behind and organise the character for the side," Macqueen joked -- before conceding the worrying trend was still causing head-scratching.
"It's one of those things you just don't know why it happens.
"We're obviously working on it... We've tried different ways of warming up, all of those sort of things. It probably comes down to mental approach, it's something we've just got to be aware of and work on."
Macqueen has had to manage a playing list resembling a casualty ward in recent weeks, but can welcome back ex-Highlander lock Hoani McDonald, back James Hilgendorf and winger Cooper Vuna from injury.
The Highlanders have proved the competition's surprise package with five wins and two losses after having a total of three last year and Macqueen singled out in-form blindside flanker Adam Thompson for special attention on Friday.
"This is the best year they've had for ages," said Macqueen.
"I think (halfback) Jimmy Cowan has played particularly well and (flanker Adam) Thompson is going to be our main headache.
"I think around the forwards he's been playing very well, he's going to be put a lot of pressure on the breakdown for us."