I don't know if this is documented anywhere and I'm not sure I have a complete picture on what the behavior is, but your analysis sounds right. I think they are just using this as a caching mechanism to boost performance of the server so they don't have to retrieve claims for users too often.
What I'm not sure about is if you have a logon accelerator token, whether the server just takes the claims out of the token or whether it looks them up again and generates a new token. I think it may be the former, but Jim might be a resource here. I can look at the code in reflector as well, but it is sometimes hard to follow all the details. :)