Am I Overreacting?

I like my MIL but ever since I had my son. She's been making a whole bunch of bracelets with his name for herself and keeps saying she's making one for my husband and I but has yet to show even progress of it? Today's her birthday and someone gifted her another bracelet with my son's name on it. It's beaded and the name font is a good 2-3inches. My FIL gave her a Pandora bead with the baby bottle and shoes. It just feels weird to me especially because she keeps trying to find excuses to stop by to see my baby on off days that's she's not watching him which she already sees him Mon-Fri. I get the whole excitement of him being the first grandson but it's getting a bit borderline obsessive. I'm trying to say it's because of their Latin culture but is this normal?? I already kept on telling my husband how I feel when she does certain things but it gets downplayed sometimes because she's just excited.

Am I just being too sensitive?