Moods & Targeted Advertising: Will it work?

This morning in the LA Times, I came across an interesting article about a company called Moodagent and the future role that advertisers will have with its iPhone application

How will advertisers change their message and product offerings given a consumers mood? Will geo-targeting a certain demographic based on certain moods eventually change the advertising landscape as companies and products start to develop a repertoire between the consumer and brand that will eventually lead to a long-lasting relationship?