It would seem that the hacking community has finally cracked the Wii, as they've figured out a way to get code up and running on the console. It's a feat that hasn't been performed before and was accomplished after many Bothans people sacrificed time and energy to complete this task. See, inside of the Wii, the Hollywood chip doesn't just handle graphics, it's got a whole lot to do with authentication (you know, to make sure you've got a valid Wii or GC game disc in there). Well, these hackers have found out that upon booting up a GameCube game, this chip will turn off all of the cool Wii functionality (bluetooth, USB, etc.) and restricts the area of memory you're allowed to access. But, there isn't any kind of encryption dealing with the memory, so this is where the folks knew they should focus.
Now, the next part gets too technical for us, but just know that they found a way to get these authentication codes from the memory and trick the Wii into believing it was loading a Wii game (in this case, Lego Star Wars). This then allowed them to load their own code into the Wii. Judging by the clapping in the video, it's a pretty big deal and means that homebrew on the Wii is that much closer to being a reality.
Oh, and if you don't get the Angelina Jolie reference, head past the break.