It's funny that you mention the keywords moving backward and
being worried about it, because I've been working on a couple of JVs with
some other SEO experts and in the past couple of days I've had the
conversation with both of them where we've discussed the Google dance and
how they (and I) get excited when a site temporarily moves backward in the
rankings, because we know it means Google is paying attention to the site
and the rankings will come back higher than before in a few weeks.

What made me smile is that right before I opened this email from you, I
was just responding to an email from one of my potential JV partners where
I was telling him I was going to develop a form letter to send out to
people about the Google dance, because I get asked about it so much. Then,
I opened your email and there was the Google dance question (or concern,
rather). It was just kind of coincidental that I'd just been emailing
someone else about it.

Anyway, no, there's nothing to worry about. Nearly every website I work
with experiences a temporary drop in rankings, sometimes for as much as a
month, while Google finds and indexes the new back links. It's called the
Google dance and it's perfectly normal for this point in a campaign. In
fact, you're about at the point where you should be coming out of it soon,
maybe in the next couple of weeks. Then, you should see an improvement in
your rankings, and it will be a steady climb to page 1 then.