Well, I can't say I've ever heard of it, but in my opinion a modchip that just boots backups is pointless.
"Backups" are pretty much illegal (at least in the US, since they involve breaking copy-protection), and Nintendo needs the sales of games. Nintendo is certainly not a company I'd want to be ripping off...
Anyway, until there's a modchip for the Wii that plays homebrew, I'm certainly not interested.
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