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If you do a Yahoo! search, and you end up on a site that has AdSense through that search, and someone clicks on an AdSense ad, Yahoo! effectively put money in Google's pocket - seems pretty obvious to me that having sites in your index that link to sites that are fill of advertising for another index is a conflict of monetary interest.
But given that people are starting to notice that some popular site are not included in the index which just happened to be Y competitors it is not hard to believe that site with adsense would be excluded as well.
But, Y better be careful about it because Google can do the same. If tomorrow, G suddenly decide to drop most of Y urls in their index (18 million for Y alone not including Amazon and other holdings) I think that would have a huge impact on Y.
It would be an interesting watch :) two sharks fighting each other but I'll put my bet with the G shark.