Still doesn't seem right...WD 1TB external attached. Using CoverFloader sometimes it'll just go dead after game selection (access lights on the drive alternate, but otherwise nothing). Hard reset the Wii and go back to the loader and same game again and it'll usually work, but I don't think it should be hit or miss like this.
edit: tried a different game with 7.4 Ultimate and I get the same result...stuck on "booting Wii game, please wait..."
Way too hit-or-miss for my own tastes...going back to 10 until he (hopefully) fixes this thing.