It works, but you need to improve it a little bit.
iMacros have got a CLICK command which basically allows you to point x and y markers at the current page where mouse button should be performed. It is good because it actually points at x and y "on the TAG" which means that you can locate a tag and choose x and y of that tag where click will be done. Another thing is you can use random number generator inside the script and it will result with random x and y (but with limits set to min,max of x and y) so your clicks will look like completely randomness.
I have used above method for long time with great results, but I have found better one.
You buy dedicated server at e.g. staminus net with whole RIPE IP block (255 separated ip addresses). Than you just set socks5 server on that dedicated server with support for every IP. Than you just click on your ads on your own changing that ips for every click.
Calculations:
Expenses:
500$/month - dedicated
3 hours a day - spoofing clicks with socks5 on every 255 ip
Profits:
0,5 $ per adsense click
255(ips)*1(click)*30(days)*0,5($ per click)=3825$
Profits netto:
3825-500=3325$ per month
AdWord users = pissed.
Google = pissed.
Me = 1337 and lotsamoney.
I have used first method (spread imacros script) for around 5 years and no ban.
I am using second method for about half a year with 17 dedicated machines (every with 255 ips) and no ban.
BTW - sorry for digging that topic, but lotsa bullsh1t have been told here and I needed to clear the air.