It's my understanding that you have to have both a CTR-Debugger
and a dev3DS (panda) it's useless.
As indicated on 3Dbrew, attempting to run it on a test or retail 3DS results in you only being able to see the the XYZ axis arrows. The results are virtually indentical to the H3D model viewer screenshot.
This is because neither test nor retail 3DS units are able to connect to a CTR-Debugger.