The Newsy video of Oct. 12, 2013 tells that Google shared endorsement ads could share your name and image. Apparently, this would all be done in public view online. Candice Aviles of Newsy shares this information with us - and that you could be the next Google ad "spokesperson". Google's terms of service update was posted Oct. 11, 2013 and goes into effect on Nov. 11, 2013. Some folks may agree that Google's (mostly) free service is worth it - while some folks are about to go in online revolt.
The "Google terms of service" posts on Twitter might be one source for you (and Google) to consider reviewing. A careful review of those (and the Newsy video) reveals that your words and/or content could be revealed to a multitude of unknown persons. Still the Google TOS update claims that "on Google, you are in control of what you share". That could be true - if you do indeed try to exercise caution with your online comments and similar posts.
For your own endorsements setting you will have to sign in to Google. If you choose to log into Google you should see a brief "Notification" from them. Getting back to the part about "Shared Endorsements" you should see that your public profile on Google+ will be used for any potential endorsements. And voilà you will find at the very bottom "Based upon my activity, Google may show my name and profile photo in shared endorsements that appear in ads." That should settle any privacy concerns - provided you do not check the box!
Further, if you are a minor (under "18 years of age") you and your information should not be appearing any shared endorsements. And Facebook, too, has announced coming privacy changes. Even the Wall Street Journal has reported on this privacy issue. As of yesterday, Oct. 11, 2013 your FB privacy settings appeared unaffected. That would still appear to be the case as of Oct. 12, 2013. If that is still unsatisfactory you can still use the FB block provision. So it appears that Google can share your name and image but only if you choose to agree. It doesn't seem so much with the coming new changes in Facebook.