The last time we discussed the grey PageRank Google toolbar indicator was just about two years ago. It was then when the gray/grey color changed from meaning banned to having no clear meaning. Back then, there was a blank white bar and a blank gray bar, both with PR0s. White meant PageRank was not yet calculated for the page, gray likely meant a ban or penalty. This is no longer the case.
Here is a picture of gray:
Today, we have a thread at WebmasterWorld discussing what the gray bar means. There are a few theories that I will share with you.
One person thinks that gray is given to pages with not enough PageRank to reach the 1 level. Another person thinks that pages in the supplemental index receives gray. Some believe that pages with penalties still receive the gray indicator. Let me quote Tedster’s post on this topic:
Can it be a form of artificial PageRank, is it Google classifying certain pages in a group, is it pages in the supplemental index or is it just nothing?
I wonder if we can get a response from Google on this, knowing that we should not live and die by what the PageRank indicator says in the Google Toolbar.
Forum discussion at WebmasterWorld.