Something similar happened to me. AppStore would badge 4 updates, but when opened the updates section was just gray. A common fix to AppStore related problems is:
1.-Remove all apps (check out the box when you connect phone/touch in iTunes).
2.-Authorize computer in the Store-> Authorize tab.
3.-Reset settings in your Settings(app)->General->Reset.
4.-Reset Network settings located above in step 3.
5.-Sync apps back in.
This is a common problem when installing cracked .ipa's. If this guide work you know what to do:
Just one step
1.-Hit the THANKS button located below



