I don't know what the problem is. Maybe W3TC 0.9.3 is not compatible with WP 3.8.1. All I know is that this plugin is a friggin nightmare. First, there are so many settings to configure that it will make your brain bleed. Then all it did was slow my site and WP Admin down. This plugin only managed to create a lot of bloat.
Now for the best part...trying to remove the plugin from the WP Admin. After you delete it and then try to make other changes to your website you will get this error message: W3 Total Cache Error: some files appear to be missing or out of place. Please re-install plugin or remove /home/*****/public_html/****/wp-content/advanced-cache.php. Removing this file doesn't correct the problem either. I have wasted the better part of the last few days trying to get this mess straightened out. So if you are smart, steer clear of this pathetic piece of coding.