A WebmasterWorld thread reports that in some cases the Google AdSense ads will not render when using Google Translate or viewing the page on Google Cache. We reported about the Google Cache issue about a year ago, and back then I believe it was temporary.
The issue is that in some cases, people use Google Translate to view web pages and if Google doesn't show the ads, these publishers (as well as Google) is missing out. The same with the Google Cache. Some sites are hit up worse than others and it isn't impacting all ads.
WebmasterWorld moderator, martinibuster thinks it might be a simple issue of miscommunication:
It's been noted that the teams developing these tools don't always communicate with other parts of Google. This may be an instance of that.Possibly and if that is the case, hopefully an AdSense representative will chime in on the thread.
Forum discussion at WebmasterWorld.