I might point out that it's possible these units with full strength and multiple chevrons may also be the result of a civil revolt, or even a product of the bugged autoresolve function (I've had lots of units not get damaged in autoresolve but still gain chevrons).
That said, I think the AI does still retrain every now and then. But I think it's mostly based on whether they have money to train a full unit (ie, if they are short on money, they'll just retrain an existing unit), and they probably don't stack their build queues.
Thinking about it, it might be possible that they don't retrain at all; if you ever use the -ai command, you'll see that your faction (which is controlled by the AI) sets all of its cities to automanage, in which case it just picks units and buildings to train and construct pretty much at random depending on its governing mode. And while a city is being automanaged, I don't think they retrain at all...
But hey, that's just speculation.
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