The ability to tag lenses in a single click is also an inspired move. The downside is that squidoo is fast becoming a spammer's paradise. I only hope Google don't set Domain_Flow_PageRank=Null. ;)Well.. Jason Calcanis has caused enough bad press for Matt Cutts to give the order to set the Domain_Flow_Pagerank=Null.
Search Engine Land have the full story here including a timeline.
While my own lenses are still ranking. My blog which used to Rank 12th for my name "Paul Reilly" and was given a boost to 6th for the same query, following the addition of a link in my Squidoo profile.
Since Squidoo got slapped my blog is back in 12th place and my lenses still rank...
This suggests that Pagerank can be passed internally or inwardly, but not outwardly. So if you're using Squidoo for affiliate business, you'll need to tag your pages well and focus on hyper-niche terms - with a single focus per lens.