From Google Web Accelerator Privacy Policy: Google temporarily caches cookies from third party sites that are used in your web requests!
Why Not to Use Google Web Accelerator
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Editorial Masthead
Hey Om, there is probably a security hole in there somewhere. The reason why it does cache is so that it can do pre-fetches on sites that wouldn’t otherwise work without cookies (and pre-fetching on sites like amazon without cookies is pointless). In regards to the controversy when GWA was released about it ‘breaking’ sites, I am firmly in the camp that it was the fault of the site developers:
GWA and pre-fetch security issues
ps. love the new design