The latest Wii system update (3.3) kills the twilight hack and freeloader. But it doesn't kill the homebrew channel if it is already installed. The homebrew channel has to already be installed before the update if you want it on your Wii. No official statement has been made about how it will affect future homebrew channel updates.
http://www.nintendowiifanboy.com/2008/06/16/wii-menu-update-3-3-kills-twilight-hack/
I am not gonna risk anything with homebrew on my wii. yet.
Playstation Home Public Beta
MAG 1st wave Private Beta
Uncharted 2 Multiplayer Public Beta
Battlefield Bad Company 2 Multiplayer Private Beta
ModNation Racers Private Beta
LEGO Universe Private Beta
Medal of Honor Closed Beta