Thus, it's even less likely to be true than Hykem's "raid" (which had
one source). It'd probably be easier for Nintendo to just do SALT for copyright infringement rather than actually breaking the law.
As for the thread's original question, it's unlikely at best. Wii games had a hell of a lot of funky stuff that they did straight on the hardware (mostly involving SPRs) which means there's no one-size-fits-all "just do graphics better" switch; especially considering that once all is said and done the vWii is a Wii with a fancy bootloader - it's
not emulated. The graphics card is the point of contention here; and vWii mode flicks some switches which turns it into an old Wii graphics card, command buffers and all. The old Wii card couldn't do 1080p, neither can the vWii card.
fail0verflow couldn't turn the vWii back into a Wii U, so unless we get some incredibly talented people (if you're a talented person, PM SOMEONE!) the vWii card is likely to stay a vWii card until you boot back into Wii U mode (which can't run Wii games). It's a bit of a catch-22 - 1080p graphics card,
or running Wii games.
As for the pseudo-vWii mode that people seem to be hinting at (where you run Wii games in Wii U mode with just enough switches flipped to make it work)... I've got no idea. It'd be a lot of work, but it could be interesting. You'd still have the problem of highly specialised code (that likes to play with SPRs) that's designed to talk to the graphics card it's used to and nothing else (it's like Mac OS's hardware support, but infinitely worse!) Good luck.
Also, people, keep in mind that the IOSU is not the Second Coming, you aren't going to magically turn your Wii U into a computer, and it's not going to affect homebrew much at all. Modding the system stuff, yes, loading and launching, yes, but actual emulators and things won't benefit much (until Linux is ported, at least)
Last but not least can we stop saying the scene is dead? You lot made vgmoose post a song about Johnny Cash cutting himself. Seriously, people.