I'm pretty sure them Twilight Hack'ers have updated it so that it'll work. I haven't updated my Wii since I got it (and since I'm not paying for an Internet connection or something, I figure it's a good reason why I haven't auto-updated) and I'm still at Version 3.1. So even an older twilight hack will work for me.
I'm not sure which app on the homebrew channel allows you to play other-region games, though.