Although, Google was a bit inclusive initially, about the keyword matches on blog posts but now they have finally fixed the problem.

In one of the Google Groups thread, Jeremy Hylton, one of Googlers said,

We have launched a ranking change that reduces the number of results that are returned because of blogroll matches. There are still problems to work out, but this change appears to be a big improvement over our earlier fix. We had originally planned to launch an experiment for link: queries, but decide more recently to release this change first. We are still working on the link: change and expect to have that ready in a few more weeks.

To understand the algorithm better let's take an example, suppose you track links that mention you via Google Blog Search. If someone does a blog post daily in one of the blogrolls, even if that blog post doesn't mention the name of the blogroll, blog search would still show that new blog post as a match.

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