I note that the 18 windows in Finder are blank, ergo not reloaded into memory.. yet.
(Fine with me, to let each one load as 'called' --they are mainly for Ref not everyday interaction: the Titles are enough.)

This suggests that, either the 'Security' update altered [several versions of Safari or just last version in Snow-Leopard?] or something in OS X set some flag, on 'Reload Previous Windows':
such that the sucker dutifully reloaded All Content, before. Now it Doesn't.
(Doubt this Update indeed silently altered Safari [Version 5.1.9 (6534.59.8)] as that is same Number-set as before the upgrade.)

Anyway, I can't infer even whether: Safari was broken? / someone observed the non-necessity of opening everything in Finder on each reload / or ____ what-ever.
(Nor should I be able to, being unacquainted with the polishing of tuples and mollifying of that Colonel Panic guy.)

Anyway--so far so Good. At 1 Hr. and counting.