Best thread title ever.
As an installation process is only using the "copy" command . no data will be removed from the source of the installation, if that is in your case your iPod, thus there will be still the installation files on the iPod.
If you used the iPod to install Mac OS X on and no copied the data onto another Mac, the data will also be still on the iPod.
Or do you mean something else, thus can be more specific?
Btw, Mac OS X is the name of the OS that is installed on Macs.