I know Azure will geo-replication a copy of current storage account to another location, my questions is: can I access another location in program, even just read only
I asked this, because this allow me to build another deploy in different geo-location for performance and disaster-proof like what Azure did. For current setup, if I use same source of storage in different geo-location, I have to pay extra bandwidth cost.
You can only access your storage account by its primary name. In the event of failover, that name will be mapped to the alternate datacenter. You cannot access the failover storage directly, nor can you choose when to trigger a failover. For a multi-site setup as you described, you'd need to duplicate your data (which would then add the cost of storage in datacenter #2). This does give you ultimate flexibility in your DR and performance planning, but at an added cost of storage and bandwidth (egress-only).
Last week the storage team announced read-only access to the failover storage: Windows Azure Storage Redundancy Options and Read Access Geo Redundant Storage.
This means you can now deploy your application in a different datacenter which can be used for "full" failover (meaning that the storage will also be available there). Even if it's only read-only, your application will still be online - but simply in "degraded" mode.
The steps on how you can implement this with traffic manager are described here: http://fabriccontroller.net/blog/posts/adding-failover-to-your-application-with-read-access-geo-redundant-storage-and-the-windows-azure-traffic-manager/
