What does prerendered mean? Does it have something to do with XML? It only appears in the Windows version.
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Basically Chrome has a mechanism to start rendering some of the pages linked by the page you're currently on.
See The Chromium Projects Design Documents: Chrome Prerendering for the details.
There's a description of the feature in a PC Mag article from November 2010.
According to the Chromium resources file, that is the "Location bar icon tooltip text when the current page is prerendered." This means that the page has already been rendered before you view it. Sometimes it is also called "prefetching", for example, with the FasterFox plug-in for Firefox.