BlinkEmote for Android
Simply select an emoticon from the list, point your device towards your partner and click 'Send' to initalize transmission. Your friend can receive your emoticon by pointing his device towards you. The received emoticon will show up in the upper left corner of her screen.
Transmission distance of up to 10 meters in bright environment and even more in the darkness.
Disclaimer: This app makes heavy use of flashing lights. Do not use if you or a person near you is susceptible. Do not look directly into flashing light. Also, don't do drugs.
by N####:
Definitely THE next gen close range social interaction technology. I can even send messages to myself when pointing at a wall!