I am not entirely sure as to the legality or legitimacy of this hack, but from what I understood of the video, the hacker, Waninkoko, has the latest firmware, drops a disk in, then a few minutes after that his system reboots and viola! He has Super Mario Brothers on his Wii.
Obviously several of you are going to cry out that it’s a fake, and it could very well be. However, the ability to steal virtual console games so easily would be nice, even more importantly, the ability to use the same hack to create, and then load, your own VC games would be even more badass as there would be no more waiting on Nintendo to get around to putting your favorite game up on the Virtual Console, you could do it yourself.
There is however no or how to available, and there is no guarantee that there ever will be, which supports those that exclaim “Fake!” Presumably though, all of the necessary code, as well as the game its self, was loaded on the disc, or the game was loaded on the SD card, and the code on the disk made it work, or vice versa.