Is there a way to load the OLD style Gamecube action replay on Wii using Freeloader?

I have one of the old style action replays for the Gamecube that will allow you to input your own codes. Now i know it won't work on the Wii by its self but heard a rumor that you can use the Wii-compatible Freeloader to load the old (good) version of AR. I believe the instructions were something to the effect of "without the AR memory card inserted (the one from the old version that holds your custom codes) use the new Freeloader to boot the old AR up, after it tells you that the memory card is missing, plug it in (might have said slot 2) and it should load like normal, allowing you to use the old (good) AR with your custom codes. Has anyone tried this that can confirm or deny this rumor? I loved using the AR on the 'Cube and don't want to buy a new one without the best feature, CUSTOM CODES!!