You're supposed to play with the bubbles. Try to aim your wiimote cursor at one of the bubbles, you will see them split up in tiny little bubbles, which you can then split up again, and again, and again...
I ran it on 3.3v1(apparently, because I could install DVDX for 3.2/3.3v1 just fine.), and it worked. I used the HBC installer dol from hbc.hackmii.com, and was amazed by the simplicity comex gave this exploit.
Lol, how can you compare ASM to those high-level languages. And how can you even dislike C, while you like ASM. You can't know ASM if you don't know C.