Most air bag sensors are in the passenger compartment, as they measure the deceleration of the vehicle's passengers, and, if the rate would be above a certain threshold, they fire off, to reduce the severity of the deceleration...
IE: The bag slows you down more gently than a steel dash, etc.
If its in the engine bay area, it might be for the stability control for example, as its a similar type of sensor, and is also going to be wired back to the fire wall, etc.
If it IS an airbag sensor, it will be a very interesting find...and VERY useful to know.
If it is to measure the degree of pitch and/or yaw, for comparison to the steering angle and throttle position, etc...then THAT system may have some impact...albeit I'd think what you described would be a small degree of change...assuming it uses momentum/inertia and NOT the attitude of the sensor.