1) I don't see how those are related.
2) I don't see any CocoaTouch APIs in OS X.
3) Apple has been using multitouch trackpad APIs for years.
4) Remember this is Beta 1 so the simplest answer is simply a bug.
5) I have already moved to ML as my primary OS and have not experienced this issue. Any suggestions for recreating it?
They might not be calling it CocoaTouch but it's all Cocoa. Apple wants everything Cocoa. I am happy about that too because I won't develop in anything else. I'm Apple all the way and don't use any software that is multiplatform (Windows like) if I can help it. Made for Mac ummm \ iOS by true Apple gardeners is the way to go IMO.
As for the cursor being less accurate, it is all the time. Not a bug. Apple is going the way of Touch, even on the desktop OS and they purposely increased the bounding box to accommodate fingers but the overlap in the UI of the curser suffers now from it. I need to get use to hitting the point with the cursor because since 10.7.3 it's different. It's not a biggy just annoying for me because I use a mouse exclusively.