We Suggest You Don't Update!
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Information of firmware 3.3 said:* This blocks new installations of anything fakesigned, that is, Homebrew Channel, wads (legal and illegal), Starfall, cIOS, anything that installs IOSes secretly like AnyRegion Changer or AnyTitle Deleter, xyzzy and DVDX (used for apps which have DVD support). This list is not exhaustive, but please add to it if you think of anything else.
* If something is already installed then it isn't affected, like Homebrew Channel, etc.
* The homebrew developers are already planning how they could work against this.
* You currently need this update to access the Wii Shop Channel.
* If you already have the Homebrew Channel and DVDX, and aren't planning to install anything big that will affect your Wii, then you are most likely unaffected. Normal everyday apps such as Homebrew Browser are completely unaffected as long as you already have the Homebrew Channel.
* It updates all IOSes with the fakesigning bug, and adds IOS51.