it could, maybe, probably, be possible if you are very patient, understand a lot of hacking and command line tools.
cheats are patched games, usually patched in memory after the game is loaded.
what you need is to patch the game before launching it, modifying the .dol on your computer to force specific values, and adding a code handler to force that value at every CPU cycle.
I think Wiimm has a tool to patch cheats offline, but it might be for iso not channels or dols.
theoretically, it's possible.
If I gave you hope, sorry, but it's too complicated to achieve, just launch vWii mode and use USBLoaders ! you can enable/disable cheat on the fly without repatching/reinjecting/reinstalling the games.