It was inevitable. Reports are coming in that the latest Wii firmware update from Nintendo deletes and prevents edited save game files from being loaded via SD Card. Essentially, this means that the homebrew enabling Twilight Hack, which comes in the form of a modified save file for non-modified Wii consoles, will no longer function if system menu 3.3 is installed.
According to folks who have already updated, the custom made Homebrew Channel is still accessible if you have it installed prior to upgrading to the new firmware, which is somewhat of a relief.
Avid user of Wii homebrew? Save yourself and stay clear of this update, for the time being at least.