I know this sounds strange but I swear...I can NOT find a log out link anywhere on Apple's online store when I'm done and need to log out I can't! What gives?
I'm not positive, but my impression is that there is no need to log out, because any time you try to do something that is sensitive (check out; access your account) you must enter your username and password... even if you just did that a moment ago.
Test it: Click on the "Account" link. You'll have to log in. Then click on something else in the store. Then go back to your account. If your experience is like mine, you'll have to log in yet again. Then add something to your cart. Act as if you're going to check out. Again, if your experience is like mine, you'll have to log in yet again. (Don't finish the checkout process, of course... unless you want to. ;-))
You're right, and the cookies are session-specific, so you are logged out automatically when you close your browser. (Note also that when you try to save/post a link to an item in the Store from the address bar, you'll see a Session Expired message shortly thereafter when attempting to use the link.)