Shepherd - 2:30 pm on May 16, 2013 (gmt 0)
Link building was targeted to the specific keyword, no other links were built. There would really be no reason for the page to rank for any other keywords, on page factors or inbound links. The page does rank for quote text unique to the page and for the domain name.
So what I am taking from this is that the page is not penalized in general, it is penalized specifically for the keywords being targeted.
A good test for this theory would be to build links to the page that is currently ranking for the keyword that are keyword anchor text rich and see if that page stops ranking for the keyword. I'm betting that it would.
As for passing juice, i'm not thinking that the links are devalued, just the page for the target keyword. If that's the case then there would still be link juice and it would still be flowing throughout the site.