gyppo - 6:17 am on Mar 6, 2013 (gmt 0)
Having the same issues here:
2 sites both homepages on page 20-40 with the site:
Both sites impacted by Panda
Homepage has most links on both sites
1 site is still ranking for homepage terms, the other isn't
Anchor text for targeted homepage terms is less than 2% of overall anchor text
The only thing I have tried is that both homepages have over 100 internal links pointing to other pages. So I can either try & add more content or remove the links to see if that impacts the penalty.