Comex released today BannerBomb v2 for the Wii System Menu 4.2. From what I have read, it works great on 4.2 E/U Firmware. But give a try for yourself and let us know your experience with it.
Version 4.1 of the System Menu for the Nintendo Wii was released on July 3rd, 2009 in Japan, and now it's available in America and Europe.
Apparently, there is a bugfix whereby if a VC/WiiWare game is played from SD, and then Wii Sports Resort is played, it forces you to watch the motionplus tutorial, although it was meant to be only watched once, on the first run.
Nintendo released a Wii Firmware update, version 4.1 today in Japan.
A bug fix to Wii Sports Resort, in which after playing a WiiWare/VC game off the SD card, and then playing Wii Sports Resort afterward, you would be forced to watch the how-to Wii Motion Plus video that normally plays only once on the initial play of Wii Sports Resort.
Go to the official site (linked above) if you would like to help test it.
To quote: Compatible (in theory) with 3.x-4.0
1. Get a SD card. If it has a private directory, rename it temporarily, e.g. to "privateold". Having other saved channels on the same card will screw it up.
2. Download aad1f_v102.zip and unzip it onto the SD card.
3. Get a DOL or ELF and put...
Below is a video titled 'BaNNeRBoMB' by TheRealTracePillars via YouTube, and according to it a new Wii exploit has been found in the system menu allowing you to run custom code on an unmodified Wii console.
To quote: Alright, sorry about the crappy quality but I didn't want to use my capture card because people would call it fake and stuff like that.