With the app and a wireless connection, you can transfer the current location to the camera. That's all. The next pictures you take, will have these coordinates. Finally, the coordinates will be used for the next 3 hours or until you transfer new coordinates.
There is no "continuous" transfer of coordinates and of course, your coordinates won't be very exact if you are moving (e.g. through a park or city). But it is in my opinion a pretty good "workaround" as long as no gps receiver is integrated into the camera.
Hope this helps you a bit.