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1. Because the link is too new.
2. Because Google can't follow the link.
3. Because the page it links to is less than PR4.
4. Because it's not really PR6 but the Toolbar shows PR6.
Any more reasons why a PR6 backlink doesn't show?
If the page linked from has a 'can inherit PR but not pass it on' penalty, then I think the backlink shows (even though no PR is transferred).
If the page linked too has a penalty, does the link show? (reason number 5 if not)
Pages that featured the word 'guestbook' or 'guest book' to some extent did show PageRank on the Toolbar and ranked as though they had that PageRank; but they were not transferring PageRank to other pages. The guestbook category on DMoz.org and directory.google.com were both affected.
I seem to remember the same thing happened with Web promotion categories on dmoz.org (this was thought to be to do with linking to a bunch of PR0 domains).