I wouldn't count on it.
Development of WiiFree has stopped. It also doesn't have the previous copy protection update, so it won't run Super Mario Galaxy and other games that have the same protection. And I think it's safe to assume SSBB has the same protection, plus this new protection thing.
What you should do is take out the chip and reprogram it with YAOSM. It runs on the same chip.
ow original. Well I don't know about that for sure.
But if it doesn't work, there will be nothing you can do about it since no new updates will come out.
The only way to make it work then is replacing the chip's firmware or replace the entire chip itself.
As far as I know WiiFree doesn't have any issues running originals so you should be fine. Unless the PAL release has some anti-modchip update, in which case we won't know if it'll work till it comes out. Hopefully it will though because i'm planning on doing the same as you.