That didn't take long! The team behind the Twilight Princess save-game exploit on the Wii - which Nintendo just "fixed" with their recent update to 3.3 - have already found a way to get past the fix. To be honest there's a ton of technical jibberish behind it that I just do not understand, but the gist seems to be that the update sought out exploited TP save files and nixed them, while these guys have found a way to tell the update to ignore exploited TP saves. That's progress for ya.
June 16 Wii update [HackMii]