If a site had for example 50 links with the same anchor text point to a page, then this site redirected the page in question with a permanent 301 redirect to another site - would the final destination of the redirects (the external site) be hit ?
Common wisdom regarding penalties and 301s has been that if your penalty is link-related, then redirecting a page might simply cause the penalty to follow you.
In the case of a redirecting a page with 50 same anchor text links, I think Google would consider this a particularly sneaky thing to do and probably hit you harder. This is in fact already a common spammers' technique. I think it's pretty clear now that Google can detect the components.
Where Penguin penalties are for content issues, like keyword stuffing, the content in effect vanishes when the page is redirected, so Google would perhaps consider other issues, and various additional questions might come up... eg...
- Is Penguin page based or domain based?
- Did the keyword stuffing once push up the page enough the link credits you'd be redirecting are undeserved?
Yes the "bad link juice" will travel via the 301 redirect and hit the destination page. In the end the "bad links" are the source of the problem and if you redirect them they still stay a part of your DN link profile and will be connected to the new URL they are pointing to.