I must disagree with big bulls, trophy taker specifically states to put the launcher cord through the downward moving cable. I have never noticed any cable wear. The launcher cord does not move or slide through the cable enough to cause noticable wear.
You either take my advice or not. It really doesn't matter to me. It's your cables.
I didn't say that it would definetly cause premature wear but it certainly can as I have seen it on more than one bow. My own included with a TKO rest served in with the cord inside the cable.
Some cords are fairly coarse and when pulled tight then released the cord moves back and forth inside the cable and rubs the inside of the fibers slowly wearing at them.