How and When does Backlinks Take Effect?

Different Search Engines follow their own approach on how to assign value to a particular backlink. The values could be based on the quality of the backlink website as well as the competition. As soon as Google Bots detects & assign values to your backlink, you can see the changes in the SERPs results. Older backlinks do carry a more weight than the newer ones. To find out whether a link is counted, the first place to check is the Google-cache. In SEO, it's believed that good, quality links can affects the SERPs within 48 hours. Backlinks from High PR pages carry a lot more weight than the pages with lower values. Thus, Backlinks play an important role for higher search engine rankings.

Also, Link Operator i.e of Google is not fully reliable. Do check with an external link popularity services such as:

Why Did Google Unindexed My Website

Google Special Report: Google's Unindexed URLs
Google's Unindexed URLs: An Example
This page gives an example of Google's unindexed Web pages and how they look in the results list. As of Dec. 2001, Google says that about 500 million of its 2 billion records are unindexed Web documents. These are URLs for Web pages (or for other file types such as PDF or PowerPoint files) which Google has not crawled and indexed. The screen shot below is an example from March 7, 2002.

Why did Google punish my website?
How to Identify
The unindexed URLs are easy to spot when the occasionally appear in Google's results. They have all the following characteristics:

No extract
No page size
And no cached copy of the page
If they are just missing the extract and/or the cached copy, they have probably been indexed. Only the ones missing all three have not been fully indexed.

Types of Orphans
So what are these orphans of Google? They may be any of the following kinds of pages.

dead links
inaccurate links
pages protected by a robots.txt or noindex meta tag
database generated URLs
pages on an intranet
links Google's spider just never got to
What is Indexed?
These orphans are not completely unindexed. Unlike the bulk of the records in Google, the text of the pages themselves has not been indexed. But there are a few ways in which they are indexed and from which then can be pulled up.

Words in the URL, like 'gourdeaud' in the image
Words in the anchor text on other pages that link to the orphan URL

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