I recently decided to experiement with this traffic swapping system. I put an iframe on my site(s) and the number of clicks on these links get tracked. Then my link shows up on other sites in the system. The iframe looks like this:
At first I was rather worried about the relevancy (or irrelevancy) of the links, but since they are in an iframe, my understanding is that Google won't follow them. I still have to worry about alienating my users, and I've asked the support people if I can control the links somehow, but as long as Google doesn't index the links, I shouldn't have to be worried about getting penalized for irrelevant links.
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