After postng the above the system produced this:
7/27/11 10:38:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 10:39:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 10:41:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 10:44:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 10:48:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 10:53:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 10:59:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 11:06:51 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 11:14:53 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 11:23:53 PM: Waiting for Spotlight to finish indexing /Volumes/Time Machine Backups/Backups.backupdb
7/27/11 11:33:05 PM: Ejected Time Machine disk image.
7/27/11 11:33:06 PM: Ejected Time Machine network volume.
So after completing the backup the indexing took a while. It might help that the disc is a 128 GB SSD with 86 GB free. Will post back with results from next backup.