Is this irule effecting persistence if called for any VIP

The rule you've presented (slightly modified):

when LB_SELECTED {
     It checks whether the IP address is within the class group preloaded with
     IP addresses that need to validate, you can put host or network
    if { [class match [IP::client_addr] equals source_ip_addr ] } {
         Is written to the log for review by ssh with the following command:
        tail -f /var/log/ltm
        log local0. "Source Ip Adress [IP::client_addr], Server Selected [LB::server]"
    } 
}

only logs the source address and the chosen pool member IF the source address matches an IP/subnet in your data group (source_ip_addr). What do you need it to do?

Yes, technically replacing:

persist cookie

with

persist source_addr 

should work.

Here it is reformatted. Create a new iRule in the management GUI and copy/paste below.

when HTTP_REQUEST { 
    switch -glob [HTTP::path] { 
        "/Microsoft-Server-ActiveSync*" { 
             Direct all ActiveSync clients to a common pool; use 
             HTTP cookie persistence persist cookie 
            pool Outlook2010_combined_vs_as_pool 
        } 
        "/rpc/rpcproxy.dll" { 
             Grab all requests for Outlook Anywhere; the following 
             checks assign correct persistence methods. 
            switch -glob [HTTP::header "User-Agent"] { 
            "MSRPC" { 
                 This User-Agent section matches most versions of 
                 Outlook and Windows using Outlook Anywhere. 
                 The OutlookSession cookie is new to Outlook 2010. 
                if { [HTTP::cookie exists "OutlookSession"] } { 
                    persist uie [HTTP::header "OutlookSession"] 3600 
                } else { 
                    persist uie [HTTP::header "Authorization"] 3600 
                } 
            } 
            "*Microsoft Office*" { 
                 This section matches some versions of 
                 Outlook 2007 on Windows XP 
                persist uie [HTTP::header "Authorization"] 3600 
            } 
            default { 
                 This section catches all other requests for 
                 Outlook Anywhere, and sets a persistence method 
                 that does not require the client to support 
                 HTTP cookies 
                persist source_addr 
            } 
        } 
         Finally, this assigns the Outlook Anywhere pool and turns 
         off full HTTP parsing and compression. If the preceding 
         clients should be sent to separate pools, the pool statement 
         should be removed here, and a separate pool statement 
         placed in each of the preceding logic branches. 
         Other modules (APM, ASM, etc.) should be disabled here 
         as well, if active for other traffic though this virtual 
         server. 
        pool Outlook2010_combined_vs_oa_pool 
        CACHE::disable 
        HTTP::disable 
        COMPRESS::disable 
    } 
    "/xml/autodiscover.aspx" { 
         Requests for Autodiscovery information. The selected pool 
         might be unique, or might be the same as e.g. your pool 
         for OWA or ActiveSync. In this example, we use the same 
         pool that receives ActiveSync traffic. 
        persist source_addr 
        pool Outlook2010_combined_vs_ad_pool 
    } default { 
         This final section takes all traffic that has not 
         otherwise been accounted for and sends it to the 
         pool for Outlook Web App 
        persist source_addr  
        pool Outlook2010_combined_vs_owa_pool 
    } 
}

** I should add that I haven't tested this complete rule.