I have been exchanging links with several websites for about a week now, but when i check with google web tools, i have apparently 0 Links to my Website. How is this possible? I know it might take some time for it to show up, but it's been at least 5 days since the first link exchange. Can someone help me with this??
Your links won't show up in 1 week, wait a while before getting worried. Also, try other linkbuilding methods like social bookmarking.
If there's one thing you should know about SEO, it's patience. Keep building links and before you know it, you'll have a solid number of backlinks, just make sure you get good links so your efforts are not wasted on building craplinks.