Google's Matt Cutts announced Google is pushing out "new toolbar PageRank values," over the course of the "next few days."
Yes, I keep saying toolbar PageRank is really all that not important. You can read my thoughts on that over here, but I honestly think this toolbar PageRank update is the most important one ever. Why?
Matt Cutts said, and I quote:
I figured the SEO industry could use something to discuss, so I thought I’d give people a heads-up about the toolbar PageRanks.
Yes, we 100% need something to discuss, other then ourselves. It has been a very rough week for the SEO community and this distraction will hopefully set things back on track. So, thank you Matt and Google for that.
Matt also notes that he is "expecting that also in the next few days" that Google will "be expiring some older penalties on websites." By penalties, we assume he means the Google Toolbar PageRank downgrade for selling links. Some were hit by this toolbar PageRank downgrade and have not yet seen an increase in their PageRank.
Forum discussion on the Google toolbar PageRank update at WebmasterWorld and DigitalPoint Forums and we have additional discussion at WebmasterWorld specifically on the topic of Google "expiring some older penalties on websites."