Angry Jew Cat - Banned for Life

There's been alot of discussion as to the dangers of using linkex on your site, and alot of cackling about how the spiders can see that you're running linkex and you should run links organizer because it's so much better. well, if the search engines can see linkex, can they not see links organizer too? or does it not leave any traces when your linsk are embedded on a page?