When I exercise it does elevate my mood if I'm down, but I don't do overly strenuous exercise, and I'm extremely shy and paranoid about being watched and made fun of when I exercise, so I generally try to be alone and hiding when it happens.

I've never felt hypo or manic after exercise itself. It depends on where my thoughts are. If I'm already having racing obsessive thoughts, then I already just start moving (pacing for hours is not uncommon,) so it's hard to say if that makes it worse.