You probably can use it with your current HBC, but it'd require editing the meta.xml file since ahb_access wasn't added until newer HBCs like I said. It'd be easier (well, this is subjective, but meh; in my opinion it's easier to just push a button or two and update straight away than to trudge through an XML file) to just update, and enjoy the bug fixes that the newer versions brought ( http://wiibrew.org/wiki/Homebrew_Channel has a changelog, but I don't think it's complete; it's missing the wifi fix and a few others, iirc ).
Anyway, it should work no matter which route you pick.
I updated it and it seems to be working.





I tested both and both worked fine on my old white wii using both gc or ps3 controllers








