Planning to Change from O3 to H1, Do I need to travel to get stamped?

Planning to Change the status from O3 to H1, Have i140 Approved. Also planning to stick with Old employer, in that case will the premium work? Currently in US if we change O3 to H1, Do we need to travel to Home country for stamping? Also on receipt we cannot work right as it is Change of Status? Appreciate your inputs.