I see two issues with AngularJS application regarding search engines and SEO:
1) What happens with custom tags? Do search engines ignore the whole content within tho
You should really check out the tutorial on building an SEO-friendly AngularJS site on the year of moo blog. He walks you through all the steps outlined on Angular's documentation. http://www.yearofmoo.com/2012/11/angularjs-and-seo.html
Using this technique, the search engine sees the expanded HTML instead of the custom tags.