Yes, sorry, double pole, one for each lead. Yes, it's A/C so as I said it makes no difference when the tool is on... it's a circuit.
But if the switch were single-pole and on neutral, you'd have "hot" voltage throughout the tool making it a shock hazard (no current because it isn't a closed circuit, but the voltage is there and your finger can complete that circuit

). Typically single-pole switches are on hot and right at the entrance of the tool, making the rest of the tool at 'neutral's potential, which is ground's potential in an American 110V circuit.
As Carroll pointed out, Festool uses double-pole switches, so flipping it really doesn't matter. Nice to see they do that... most vendors out there don't even put a dust protected switch on a router! [blink]
BTW, the big reason why we started using 'polarized' plugs ages ago was because manufacturers used single-pole switches so if you plugged the item in 'backwards' putting the switch on neutral, the appliance was a shock hazard; the polarized plugs ensure the narrow spade is on the switch.