While listeners' emotional response to music is the subject of numerous studies, less attention is paid to the dynamic emotion variations due to the interaction between artists and audiences in live improvised music performances. By opening a direct communication channel from audience members to performers, the Mood Conductor system provides an experimental framework to study this phenomenon. Mood Conductor facilitates interactive performances and thus also has an inherent entertainment value. The framework allows audience members to send emotional directions using their mobile devices in order to "conduct" improvised performances. Emotion coordinates indicted by the audience in the arousal-valence space are aggregated and clustered to create a video projection. This is used by the musicians as guidance, and provides visual feedback to the audience. Three different systems were developed and tested within our framework so far. These systems were trialled in several public performances with different ensembles. Qualitative and quantitative evaluations demonstrated that musicians and audiences were highly engaged with the system, and raised new insights enabling future improvements of the framework.