[Plugin: Google Analytics for WordPress] Tracking 404 errors

It looks like it does using this method:

https://www.google.com/support/googleanalytics/bin/answer.py?hl=en&answer=86927

You can see it on Line 354 of googleanalytics.php

Yeah, you don’t have to do anything. Google Analytics for WordPress automatically includes special Analytics code in WordPress 404 pages.

In your Analytics Top Content report, search for “/404.html” to see all the pages that returned 404.