I really hope somebody can answer this question for me. I was recently given a link from a relevant PR5 website. The link is one click from the index page. Although the index page is PR5, this page where my link is located is greybarred - not indexed by Google. Obviously Google does not consider this page "valuable". I just don't understand why this page does not show any pagerank in the toolbar. All his other pages linked from the index page have a PR4. Is this link still valuable. It's not sending me any hits and I don't know if its sending me any PR. There are no nofollow tags along with the link to this page. Should I be checking for a robots.txt file and/or sitemap to see if he is trying to prevent Google from passing pagerank to this page?
Just do a site:domain.com/page - it should show if the page is indexed or not. Sounds like he is cheating on swapping links.
Check and see if the page is indexed. If it is then it's probably passing link juice. I've got a page that has a lot of external links to it and it used to be a PR5, but for some reason it is now a Grey Bar (maybe because it's deep inside the site). I've linked from this page to another of my sites where they are related. The page on the other site ranks #1 in Google for the main term. The page has no other external links that I can determine so it appears that the Grey Bar page is passing link juice.