Quote:
Originally Posted by beautifulsoup
No. But just now, after reading your suggestion, I went to do so, and got this message when I hit Log Out:
Are you sure you want to sign out? We will remove your books from Kobo Desktop, but not from your account. You will also lose any highlights you added to your books.
I opted to stay logged in. 
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By the look of it, you're using Kobo Desktop on your computer, here. Logging out of this simply temporarily removes the titles from the desktop program, but does not remove them from the cloud nor from your Kobo e-reader. When you log back in, it repopulates the Desktop program (but it does take about ten minutes if you have a lot of titles...)