What effect could misplacing the electrodes have besides stimulating a different part of the brain? I'm honestly asking, I have no idea about any of this.
Impaired learning, IIRC - one study I read about recently mentioned that when the setup was reversed on the head, learning was not enhanced compared to baseline but damaged.
There's been a bit of discussion about TDCS here on LessWrong. If you don't know what TDCS is here's an article from Technology Review.
Here's a company (soon) selling a DIY kit to build your own.
Here's a video from Journal of Visualized Experiments on how to administer TDCS.
Thoughts?