It should be enabled by default.
The only reason I know this is not the default is what you said: backward compatibility. But since you shouldn't use the GL ES 1.1 features in cocos2d 2.0, it probably only caters for those upgrading from cocos2d 1.x to 2.x and gradually porting their GL ES 1.1 code to 2.0 - although you will have to change most if not all GL user code anyway.
I have had a status cache included in KoboldTouch since October 2012 (before the release of KT), and this did not cause me a single problem, and no one who works with KT reported a problem with state caching.
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