Might work for an hour, day, week, month.
You will run into more issues then you want.
You will have the flash drive shit out eventually, it will corrupt, it will make you want to throw your Wii at a horse.
You'll end up spending ~$40 on new flash drives, thinking it will work, it won't.
Spend the $ on a 250/500gb/1tb HDD, your experience will be a lot better.
People (noobs) will say "U r an stoopid they work gr8 u just dont no wat u r doing"
Smart people will tell you how it is.
Flash drives are shit, HDD is the only way to go.
(look at what Cyan says. Follow what Cyan says. He's the person I've learned most of the Wii stuff from, just reading his posts will bump your IQ a few points)