Quoting from the official Google Chrome Frame page :
In layman’s terms, Google Chrome Frame allows you to see and experience the web the way the original developers intended.
Simply put, if you’re using Internet Explorer 6, 7, 8 or even in some cases, 9, the way you view the web might not be how users of Mozilla Firefox, Opera, Google Chrome, Apple Safari or a whole host of other, modern, standards-compliant web browsers view it. Sadly, many people (normally at work) are ‘stuck’ with IE6 and all of its foibles – and it has many – which means, even if they know about other web browsers, they can’t do anything about it.
Fortunately, Google have ingeniously come up with a way around this. Enter, stage left, Google Chrome Frame (GCF). GCF (sort of) uses the ‘rendering engine’ of Google Chrome right from within Internet Explorer. What this means is that instead of using IE’s standards-incompliant method of viewing the web, IE uses Google Chrome’s. This means you see and experience the web in the way it was intended.
It’s pretty simple. Visit http://code.google.com/chrome/chromeframe/ and click on ‘Get Google Chrome Frame’ in the upper right hand corner. Follow the instructions. Job done!
The simple answer is: No, you don’t.
The slightly more long-winded and somewhat vague answer is that you might need them, under some circumstances. It is possible that some system administrators could block access to the download page, in which case you will need to ask for permission from those in charge of your IT.
In all likelihood no, it wont. Google Chrome Frame only gets used when a specific website requests it. This means that if your intranet/extranet/other website doesn’t specifically check to see if you have it installed, then GCF will not be used.
Since version 3.2 of WordPress, support for IE6 has been dropped from the dashboard. This means that, in all likelihood, you will need to use a more modern browser to effectively use your administration panel. If you can't upgrade to a more modern browser, then Google Chrome Frame is your saviour!