That stuff is all awesomely crazy, but it's the kind of harmless cyborg chicanery a lot of scientists are engaging in recently. The Emotion Chip is a whole other, more dangerous genre of insanity.
It started when his team rigged up the sensor in his arm to transmit to a necklace. It senses when he's excited and makes the necklace glow red, it goes back to blue when he calms down. His wife wears it.
Why this is useful information for the wife to have isn't clear, since you really do need more details before you know how to react (i.e. is the "excitement" you detect due to him having just won the Nobel Prize? Or because he's banging a grad assistant? Or getting beaten by the police?)
But no matter; Warwick plunged ahead and took the next "logical" step: having his wife implanted with a matching sensor that would let her sense his feelings without the necklace. And by all accounts, it works just like he says it does.
So when he says he wants to implant a sensor in his brain--and his wife's brain--that will essentially give them emotional telepathy, we can't help but watch with interest. It's for the same reason we would watch a bear try to ride a motorcycle--it'll be interesting whether he succeeds or not.
And if he does, well, the implications are insane.