I wanted to see if I could force it to load a webm file to compare decoding speed to mplayer... but instead started playing a bunch of flash games. The YouTube channel is just a flash player and can be used to load generic flash content offline, though a usb keyboard is usually required. There's also a ton of configurable settings. You can easily change efb size, xfb size, and vi size for any kind of video mode. You can also change framerate and the texture filter. To use it (but why would you) just replace /trusted/wii_shim.swf in the 02.app or specify a path in config/common.pcf.