It works (for the most part), Moshing, but its not an easy program to immediately grasp. It takes a little time and trial and error to get it working right.

You'll probably want to load some samples on your Nokia first. You should be able to find a variety of them on the internet with even the most basic search. Then, you'll load them in to your Instruments and Samples patches. Switch to "Rec" mode, then "Ins. Ed." and you should be able to record any notes you play on the "keyboard" that stretches across the bottom into the sequencer grid above.

The real issue is that you're unable to pull up the virtual keyboard while running Milkytracker, so you won't be able to get into the effects colums and modify the sounds. If you're using the N810, you might be able to get around this limitation, but I'm on a N800 and haven't had much luck.