I don't know if this is bugged or not. But myself and two friends are currently doing the story together - 1 Human and 2 Sylvari.
I started the story (Sylvari) and when we got to Chapter 3, my friend who plays a human found out they were on Chapter 1 and never had any option to continue the story. So we're now having to redo Chapter 1 - 3 so she can catch up.
I don't ever remember Anet doing race based story only so I assume this is a bug?
Unfortunately this isn't something I can bug report as there doesn't seem to be a "Story" sub category in game options