I haven't read Snopes but from the quotes in this thread it appears it doesn't go far enough:
The truth about CC operation:
The system senses speed. It will have a detector of some sort on a rotating part where the rpm of the part equates to wheel speed and thus mph. Used to be a magnet on the drive shaft - don't know where it is now, or what is used.
The system will do all in its power to maintain that part at that set rpm.
Entering aquaplane all the system knows is that the part suddenly increased rpm and manipulates the throttle to slow it down to the set point, e.g., it will maintain that set rpm come hell or high water unless something turns it off or the car crashes.
Thus the car "cannot take off like an airplane". Okay, that is about the Snopes part.
Now. Why would anyone thing the car "takes off like...."
Simple. unless you are going downhill when it aquaplenes, the car will _slow_ by some amount but the wheels will still be going at the set speed. Car continues to slow a bit until traction is restored. Thus you have the car going one speed but the wheels something faster.
Now just what happens when traction suddenly reappears?
CC opens to speed the car back up to the set point. The acceleration can range from slight to WOT. Depending on how much the car slowed during the episode it can easily give the sensation of "taking off like....". Thus it won't "take off...." but you can get that sensation.
Harry K