have released a demo of the first ELF loader running on the Wii, using a buffer overflow discovered in Wii title Zelda: Twilight Princess.
Download: Wii Twilight Hack v0.1 Alpha 1
The beauty of this exploit is that you do not need modified Wii, only a copy of Twilight Princess. It should be noted, however, that the exploit only works with certain versions of the game. Version RVL-RZDE-0A-2 USA has been reported as incompatible, while the hack is fully functional on versions RVL-RZDP-0A-0 JPN and RVL-RZDE-0A-0 JPN.
The hack in its current form is still a proof of concept, proving that booting code from within Twilight Princess is possible. If all goes well, the final release of the loader will open the gates to Wii homebrew, allowing users to boot homebrew code directly from SD Card.