Gamesgeek's apparently sent an email out containing a statement from Datel on Freeloader's incompatibility with the now-released Wii Firmware 3.3. It doesn't look good, in a nutshell.
We have received this from Datel today regarding Freeloader - and we wanted to let you know this important information ASAP to keep you informed:
*** Please note, due to circumstances beyond our control Wii Freeloader is not compatible with latest version Wii firmware 3.3 and higher, just released (released as an online update 17/06/2008). You can continue to use Wii Freeloader perfectly with any Wii console running firmware 3.2 and below. If you upgrade to Wii firmware 3.3 or higher this WILL disable the Freeloader function and it will stop working for all future use on all import games. ***