In-role, co-located caching & CacheService.exe

We utilise Azure's co-located In-Role caching in our web roles.

When looking at memory usage in Window's Resource Monitor, I see that a "CacheService.exe" is consuming a large portion of available RAM:

Is this the cache cluster used by the in-role cache? And can I roughly assume the total, cumulative size of all my cached objects by looking at CacheService.exe's memory usage?

Yes, CacheService.exe is the executable for In-Role cache. If this is causing bottleneck for your application, you should consider using dedicated In-Role cache instead of an In-Role one.