I tried it and it completely stopped everything. I feel bad. My Wii broke trying to display a little blue brick. (I ran i on firefox later)
If this can be used to execute code, the only way i see is the homebrew being streamed from the net onto your wii. And then if that specific homebrew has any save type function, it would have to save onto a server. Meaning that even if this is a way to execute code, that to most, if not all homebrewers this will not turn into anything big, because few people will go out and buy a server and buy huge upload rates from their ISP for homebrew.
Im not very familiar with browsers..
However everyone lately is talking about just using ROMs and not homebrew. Thinking a little, The only homebrew that i can see being a major success like Moonshell is, is a program that can make the Wii act as a DVR, which would record to SD media, or to USB after a bootloader is made.
"One small step for the scene, one itty-bitty tip-toe/large leap for the Wii"