Came across the term Google bombing (wikipedia) (via Dalager).
It refers to a technique where links pointing to a specific site contains certain phrases or keywords in the link text. The site pointed on will then apparently get ranked on that keyword or -phrase, although it is not on the site itself.
It’s a side effect of Googles pagerank/link popularity concept. In that way links containing titles to describe what they point at, can affect results in Google. Use in a harmful way – a lot of sites could point to say a danish politician – Søren Pind – and put a label on him that he doesn’t intentionally try to communicate.
Used as a tool in search engine optimization, link texts can be used to intentionally communicate keywords or -phrases consistent with the content on the actual site. Example: Complex Solutions.

Even Jacob Nielsen has a part on link titles.

Further thinking:
It seems that anchor texts are more important than link titles – and thus I must consider linking anchor text if I want to see søren pind sported as an ‘androgyn levebrødspolitiker‘ on google…

Update:
Google has crawled my site and a search for ‘androgyn levebrødspolitiker‘ brings up this site.
Now, all I have to do is sit back and wait for some magic to happen…