Blogs trade links extremely frequently, often almost obsessively so. The blog lnk trades were not affected by the Florida Google update.
If anything, blogs benefited tremendously.
Link trading on blogs is fundamentally different from trades done on tradtional websites.
For one thing, on a regular website, the link appears on a links page, or perhaps a links list, and nowhere else. On a blog, that same link out can also appear several times within the blog posts. Bloggers happily link to other sites on a daily basis. It's not a one time thing.
Bloggers are really generous linkers. They literally link to Everything. Because of their heavy outlinking practices, their often large lists of links are not seen by Google as a possible "link farm".
Another reason bloggers were not caught up in the Florida links storm is the location of the blog links list. Blogs have that list right on their home page. They are giving their link swap partners their full bore PageRank benefits. Google's Florida link sweep was felt most heavily by sites that had large link pages that did little else.
No blogger can be accused of that!
Bloggers have their links out front, not hidden in a links page three or four levels deep, in the site directory. The intention of those types of links page is not to be a resource, but to garner added PageRank. Google did not treat that idea very kindly.
Perhaps the new Google algorithm is punishing link swaps for traditional websites, but blogs did very well, for the most part. Bloggers breezed through the Florida update generally unscathed, and sporting brand new PR5, PR6, and PR7 PageRanks.
The natural openess of blogs worked in their favour.
Google rewarded that blog generosity.
