In theory it should work. The idea is that only half of the chain ring is in contact with the chain at any givin time so tension should not change. This is from Sheldon's site ( he loves biopace). In practice, when I helped a buddy of mine build a SS with biopace and a singulator you could see the tension change throughout the pedal rotation.

So back to your question, it depends on your bike. Are you using a chain tensioner of some kind or do you have horiz dropouts?