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I wonder what this could be:
The article on my WP-blog with the most backlinks to it seems no to be listed in the serps.
I know, there could be hundreds of reasons, but where would you start to investigate?
Webmaster Tools tell me that there are over 200 BLs to it, site:www.myblog.com search in google doesn't show the article, when I put the address or the exact title in quotes into the search field then it shows.
What is curious, that the mega-description is not the one in the tag, google shows the first sentence...
Regarding G's results description; there is never a guarantee that G's description will be your meta-tag description, it very often chooses whatever it likes. I understand that one way to ensure that G uses your meta-tag description is to include the main search keyword in the description.
If you are seeing the url in search results when you search on the title's words, that just means the site: results are buggy for you in this case. This does happen from time to time. As long as the page still comes up in regular search, you have no real worry and there's not much you can do about "fixing" it either.
Google's reporting - the special operators (such as link: and site:) plus the Webmaster Tools report features - are generated independent of the ranking calculations, and they do not determine them. So bugs in the reports you see will not equate to ranking problems.