MySQL Connector/ODBC Release Notes
Connection pooling enables the ODBC driver to re-use existing connections to a given database from a pool of connections, instead of opening a new connection each time the database is accessed. By enabling connection pooling you can improve the overall performance of your application by lowering the time taken to open a connection to a database in the connection pool.
For more information about connection pooling: http://support.microsoft.com/default.aspx?scid=kb;EN-US;q169470.