Not bad, only this PR its no confirmated. This is because the domain PR was another web page. The real PR show when Google review the new web page's PR.
I am not sure why it would not be confirmed. The domain has never been dropped, just the content has changed.
I prefer to check with seologs: http://www.seologs.com/pr-check/pagerank.html This tool shows that G results for www.terpfans.com do not point to www.terpfans.com, this means the domain has acquired its PR from a different PR4 site. Trust me this will save you money from buying "New PR whatever" listings. This domain (terpfans.com), like many others, is not PR4. The domain was forwarded to a real PR 4 and tricked most PR check tools into thinking it is real. Once G PR update is complete, this site will most likely drop to zero, since it only has 7 backlinks. Unless of course those 7 backlinks have huge PR, which is doubtful. This is nothing against the OP, because he probably just got ripped off on the domain name. He/she probably thought they were buying a valid PR domain. It happens all the time on popular auction sites. Sorry dude.
I don't quite understand where you are getting the info that this domain is getting its PR from a re-directed domain. I understand the concept, just can't see how you can make your point using the SEO Logs URL above, as it reports www.terpfans.com as shown below with the valid URL being terpfans.com.
Yeah, it shows it now. It showed invalid yesterday. Google recently cached your site on Oct. 23 & 18th and that is why it is showing valid now. Only time will tell if it will keep its PR. I guess you bought this name back in August? http://www.namepros.com/domains-for-sale-fixed-price/381082-great-domain-sale.html Guess what, PR has been delayed ever since you bought the name. We have only recently seen some adjustments from G. Fortunately, there are other ways to tell if a domain has been forwarded previously. For instance: February & June 2007: http://web.archive.org/web/20070602004004/http://www.terpfans.com/ - Forward to customremodelingandrestoration. com February 2006: http://web.archive.org/web/20060207020008/http://www.terpfans.com/ - Forwarded to capshockey. net February 2005: http://web.archive.org/web/20050206141235/http://terpfans.com/ - Forwarded to a University of Maryland website, which is coincidentally where the name "Terps" came from. I knew I saw that name somewhere else besides a bidding directory. Like I said before statistic tools can be tricked. We will have to wait and see if PR holds up. I never said that you did anything wrong, you obviously didn't know. I would certainly not have said anything without facts to back it up. Best of luck, hope you can keep the PR.