Sounds like its an google's echo test for chrome. The whois (below) points back to Google, Inc. It seems that it is used to send back network connectivity stats to a google server for ~0.5% of users..
An echo in this context just means whether if you send a simple message to a remote computer if you hear back. (Similar to ping/ICMP message).
EDIT: See Graham Hill's excellent comment below to disable this feature in chrome (In Settings, Under the Hood, uncheck "Automatically send usage statistics and crash reports to Google" or similar text.)
# whois googleechotest.com
Whois Server Version 2.0
Domain names in the .com and .net domains can now be registered
with many different competing registrars. Go to http://www.internic.net
for detailed information.
Domain Name: GOOGLEECHOTEST.COM
Registrar: MARKMONITOR INC.
Whois Server: whois.markmonitor.com
Referral URL: http://www.markmonitor.com
Name Server: NS1.GOOGLE.COM
Name Server: NS2.GOOGLE.COM
Name Server: NS3.GOOGLE.COM
Name Server: NS4.GOOGLE.COM
Status: clientDeleteProhibited
Status: clientTransferProhibited
Status: clientUpdateProhibited
Updated Date: 21-oct-2011
Creation Date: 21-oct-2011
Expiration Date: 21-oct-2013
...
Registrant:
DNS Admin
Google Inc.
1600 Amphitheatre Parkway
Mountain View CA 94043
US
dns-admin@google.com +1.6502530000 Fax: +1.6502530001
Domain Name: googleechotest.com
Registrar Name: Markmonitor.com
Registrar Whois: whois.markmonitor.com
Registrar Homepage: http://www.markmonitor.com
Administrative Contact:
DNS Admin
Google Inc.
1600 Amphitheatre Parkway
Mountain View CA 94043
US
dns-admin@google.com +1.6502530000 Fax: +1.6502530001
Technical Contact, Zone Contact:
DNS Admin
Google Inc.
1600 Amphitheatre Parkway
Mountain View CA 94043
US
dns-admin@google.com +1.6502530000 Fax: +1.6502530001
Created on..............: 2011-10-21.
Expires on..............: 2013-10-21.
Record last updated on..: 2011-10-21.
Domain servers in listed order:
ns1.google.com
ns2.google.com
ns4.google.com
ns3.google.com