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Very nice, related links indeed. Yahoo shows them all (probably), while Google has never been trusted with the link: results.
Besides, recently, Google has become very picky in 'approving' links. The chance is huge that the key no-no word is "exchange".
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We actually have been doing 3-way linking to avoid the appearance of "exchange". The site we're "exchanging" links with will link to us and we provide a link back from a related partner resource site. Thus, we avoid the typical 2-way link which has lost value with Google in recent years. In addition, I'm finding these "exchange" partners by following Google's backlinks from high ranking sites for our keywords. Logically, I figure that if Google recognizes the page as a backlink for other similar sites using these keywords, then they should also recognize the backlink from that page to our site. This strategy has reaped great dividends for my other clients, but I'm at a loss as to why this site is stuck in the mud.