In a nutshell, if your search goes through our servers, we have a log, but we purge IP addresses every 30 days...
Boounce does not log or communicate with our servers when you search websites directly, including Google and Bing. The alternative sites suggested by Boounce in your search results (based on your search term) is derived from site data stored on your hard drive. We do not need to store a log of this.
Boounce does log searches you make using the toolbar (boouncing). Boounce also logs searches you make when clicking (boouncing) on an alternative site suggested in your Google and Bing results. This is because, when you boounce you transparently go through our servers to be redirected to the final destination search engine. This allows us to direct you to the most current search URL without having to continually update the site data on your hard drive. By default, your IP is deleted from our servers logs after 30 days. We keep the search term data to use in aggregate to help suggest alternative sites to search to other users in the future.