Google Analytics Opt-Out ?

Is anyone using Google's Analytics Opt-Out browser add-in (gaoptoutaddon_1.0.8.xpi) "to provide website visitors the ability to prevent their data from being collected and used by Google Analytics"? (This would apply only to sites that use Google Analytics to collect visitor data, but not all sites use Google Analytics.)

The Terms Of Use give Google "permission to access your data for all websites". 

So does this really mean we're actually giving Google outright (full) permission to access all our data for whatever purposes on any website, including those that don't use Google Analytics, and even if the data can't be used by their own Analytics group?

Makes me suspicious...