I'm not sure of that. the app would have to be fixed for that. there's a version of wiixplorer that can read ustealth. that's an app u need a toggle switch for. it will read ur stealth drive, but a second drive will prevent u from seeing the content of the stealthed drive. it's a bug will the app rather than ustealth though. I dunno how it will appear to an emulator. mt guess is that it wouldn't see it. u could try a toggle switch with ur virtual wii drive. that will work as u'll be turning the drive off with a switch..
I suppose if theres only a few games im interetsted in emulating I could just store them on the sd? there's only the odd NES, SNES and mega drive games I would likely play anyhow.