I'm very happy to see my PageRank jauge coloured in Green !! My PR jumped from 0 to 4 after only two months of blogging.. Sounds wierd doesn't it ?
This huge change is caused by the changes in Google PR algorithm which is trying to fight paid links. There are many programs of selling links where you get paid to link to a certain website using some targeted keywords. This will increace the PageRank of the website so he can get a great deal of visitors from search engines. As a result, Links in first pages will be for those who pay more. Google is responsible of keeping his search results meaningful and ranked for their content not for their money power.
Blogs are a big links market, so google started to penalize bloggers for selling links. That meant a full blogs reviews by spiders. At the same time, good content bloggers were rewarded by some PR points.
Losing PR is bad for your blog, it affects your traffic because you will not hit the first pages of google search. At the same time Paid links make good revenue for bloggers. So we are between two choices. It's really confusing...!
Some ProBloggers see that we should forget about the PageRank and keep on improving our blog content. PR isn't everything and Google isn't the only source of traffic. We shouldn't make the PR enslave us. If it improves ok, if it doesn't keep on working and make your blog your piece of art where you can satisfy yourself and gain more readers to you thoughts.