Arizal - 8:40 am on Aug 9, 2010 (gmt 0)
I have monitored the issue at WMT as well for several of my sites. There are basically just more links reported (or counted for the report), but no ranking changes involved.
Most of my sites now backlinks in the five to six figure range, but the samples provided do not show any new links.
It seems to me mainly an issue of duplicate content which creates those multiple links: main link giver for some of those sites are sites with about 800 unique pages, but due to their URL handling create up to 100k pages...
The funny thing is: before caffeine the link giver sites were indexed with up to 100k pages, now they are largely trimmed down to the unique core in the Google index. However, obviously, they started to show up in the WMT backlink report.
As I have several sites with such a link profile I am pretty sure that they are no ranking changes involved, due to the newly reported links.
However, there was the caffeine rollout, mayday, june 2nd (and the subsequent corrections of this take on microsites) what kept the SERPs pretty dynamic and has some repercussions until now.
That's my experience so far.