Yes.
Imagine the Emulated NAND as a 2nd wii. You put a wii game in the drive...
If you power the Wii On/Off, is the game still in the drive? yes. same goes for SNEEK & Triiforce as they use the same NAND Dump.
SNEEK & Triiforce are just different ways of doing the same thing (However SNEEK also has additional features)