Is there any tool where we can find out that others sites which initially had exchanged the links but may have removed it later. ?
I use http://www.seo-trade.net for a couple of months now, besides a backlink checker it also features KeyWord Ranking checking which saves me time..
Our site was made exactly for that...tracking link trades. We use it for all our internal link trades as well as offer the service. We have a free version that would allow you to track up to 25 links, though if you want to try out a Pro account just use the promo code wmforum and you will get 60 days for free! Our system works like an online excel spreadsheet but better. Not only can you set which links to track, but you can enter the site you link to , the site that links back, and handles one way, ab, abc,abcd, ab-cd trades. No more will you have to wonder what deal you made to get that link, the whole trade is in one section. Daily email reporting, PR checking, anchor text and no follow checks as well. LinkTradeTracker.com
Try http://www.timwebtool.com/2010/10/28/reciprocal-link-checker/. You can check as many links as possible at one time.