Over the weekend there were dozens of complaints in the Google forums and other SEO forums about the link tool not showing the right number of links or no links at all. By the time I spotted the issue (Sunday afternoon), the bug was fixed according to Google.

However, today I saw that Google said that although the bug is fixed, the reports will be slow to update.

Googler, Jonathan Simon said in a Google Webmaster Help thread:

I hope by the end of today everyones link reports in Google Webmaster Tools is up to date.

However, there are many SEOs claiming that since the link report bug, their rankings have tanked. Of course, we all know the bugs in reports in Google Webmaster Tools have no impact on Google rankings in the search results.

Forum discussion at Google Webmaster Help.