Nice podcast on foam rolling mechanisms –

Bottom-line is that foam rolling can possibly acutely increase range of motion, but not in the long-term.  The mechanisms are most likely neurophysiological, i.e. not mechanical (not breaking down fascial adhesions, not breaking down scar tissue).  May be helpful for recovery post-workout.

http://www.irakinutrition.com/blog/podcast-with-andrew-vigotsky/