It rarely works this well. But generally i find it is an underestimated opening: only if white plays the best absolute move for 10-11 times then it's a bit bad for black, but nothing terrible. I always play it against d4.
It is not much of a trap as Qf4 only benefits White, even after the substandard Bf3 (instead of the intuitive Nc3). By interposing Bd2 the game is at +1.7. If Black happens to follow with Qxb2, White get even further ahead at +2.3. Looks fancy though!
