I looked through the data sheet and could find nothing to suggest that the logic inputs of the MMA7361 are 5 V tolerant . The outputs of a 5 V Arduino are 0 or 5V (approximately). It is safe to assume that the accelerometer won't work correctly or could be damaged if its logic inputs are connected to the Arduino outputs, without a level shifter.
However, you don't need to do so. Just connect the logic inputs (g-Select, /Sleep and Self Test) to +3.3V or ground, as appropriate. If you want 1.5 g sensitivity, those connections would be /Sleep = 3.3V, Self Test = ground, g-Select = ground.