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The londesc, as I understand it, was created for accessibility purposes and should be a URL - where an image is too important to a page to explain it's meaning reasonably in an alt attribute. Again, since it is a url, I would imagine it gets followed (again, no proof). But I would doubt that just putting keywords in a logdesc would work.
W3C Web Accessibility Initiative: longdesc attribute [w3.org]
If the information contained in the image is important to the meaning of your page (i.e. some important content would be lost if the image was removed) , then you must provide a longer description than the "alt" attribute can reasonably display. The "longdesc" attribute was created for this reason.<IMG SRC="graph1.gif" LONGDESC="graph1.htm" ALT="3-d sales chart.">
Future browsers or other agents will provide an optional a link to the description file called "graph1.htm".
If those do get noticed by search engines, it certainly opens up some possibilities. It's worth an experiment, which I'm going to do. I'll report back if I find anything useful.