are you sure that the link in the address bar is the same that you are looking up? example http://www.shadav.com shows a PR of 2 whereas http://shadav.com shows a 0 http://www.shadav.com/index.html shows a 0 same pages but for some reason google doesn't understand this
PR update happened alright! My second site got from PR5 to PR6 which means that now I have two PR6 sites. And that's just awesome! And the way we built it? Simply by putting up good articles and getting published through popular news sites related to our topic. I am happy, but I can't say I didn't expect it. I remember having some web tool spit this prediction before for that site. Oh and yeah I know PR doesn't mean everything, but it's still an awesome recognition and supposeld a rough estimate of overall google rankings.
To answer to the topic question, yes, PR updates were (and still are) happening. As of my case, I am still not sure the new PR of my few sites. Some DCs say PR this, but another DC says PR that. Quite surprised it takes thing long.
A PR checker I'm using (I don't have GToolbar on this comp) still says 3. Maybe it's not up to date? I'm still holding on to the small possibility that it hasn't happened to me yet.
Now the Firefox plugin says PR5 on this site for which I thought switched to PR6 because the plugin said so yesterday night. So it varies depending on the sources. All things considered once this dance is complete I think it will end up at PR6. Otherwise I don't think it would shift like this. For example my other site holds firm at PR6 all this time. So it will probably vary for a while and then finally settle to the definitive number.
It may be over, but I suspect it will take a bit of time for all PR services to adjust. They still seem to be in "disagreement" over PRs.
I don't have the PR toolbar so maybe the PR service I'm using is wrong. I refuse to believe I didn't go up after all the link building I did!