Yes, it does.

The VM grew at about 5-6MB/hr, even with a fresh default install into a new admin user account, with no searches, downloads, or uploads
(Interestingly, it quickly went to turbocharged, even with the firewall fully on and the ports not forwarded).

No VM growth, with all View options turned off, while disconnected
No VM growth, with all View options turned off, while connected

VM grew by turning on View->Connections (while connected).
(also noted that the 30 minute sleep function works)

No VM growth, with zab's garbage collector CVS version (thanks zab--hope this gets into the next beta).

So, looks like the VM growth is tied to displaying Connections View when connected, and that better gc will fix the problem.

cheers