A few times now I've had this happen to me, and you only spot it when you log out the site and view it as a guest. When I use the tools in admin cp to rebuild "all the data" items, each one in turn. While the articles on the site listed on dashboard page are still displayed to me if logged-in as admin. When I log out viewing the site as a guest instead. Nothing shows up, I have noticed that you have to "delete all cache" after rebuilding all data items before anything shows up on the dashboard page (at least).
A few times I've noticed this happens when you rebuild all data items but forget to clear all cache after doing it. Once you clear all the cache, everything is fine then. But don't think this is right though, as people are not going to think they have to clear all cache after rebuilding all items. And they don't even see the problem until they log out their own site viewing it