I'm going through my links partners pages that link to me and there are about 50% of the pages that have a grey bar (meaning no page rank) but are still cached, I know that if a page is in the index and has no PR it should be just white, but these ones are great and are still cached, is google going to hide obvious links page's PR? I'm wondering if it's harmful to do a link exchange with these sites? My links page still has PR.
google has become very sharp and stupid for link market. i suggest you to become careful while you having links page