I'm wondering as well, i have new site that shows it's gray barred but other members in this forum said it's because the Big G is still updating...
To my knowledge the update was completed within the first week of May. At least my sites are reflecting the new PR values.
Yeah after 3 months you will be notified keep building your links as for the preparation for the next update
Google changes your search engine position everyday based on calculating your pagerank constantly. The toolbar is always behind 3 months. There is certain "roadstops" though i believe. For example one of my sites should be a 4 or 5 by now but its not because its a little less then 6 months old.
the updates are over, almost all the pr0 sites, specially the non-indexed ones or those who has the suppliment pages etc are grey now! this is pretty confusing as we used to determine banned pages using the grey bar previously! the pr update is over, and probably it will take place in another 3 months of time!