It won't work...at all. I actually tested it this morning and came up with the same results each time. I only tested this because it was 6am; I was bored and couldn't sleep; and I have a Wiikey Fusion that no one wants lol. Basically only one device can work at a time and it will always be the one with the Wii motherboard ribbon cable plugged into its host port. I've tried different combinations and settings, i.e. auto-loading, not auto-loading, stealth mode on, stealth mode off, etc.
Essentially, the device that is hosting the Wii disables the second device's ability to load its GameCube config iso. So owning both devices will amount to nothing . Stick with Wode as it is clearly the superior modchip between the 2. Wiikey Fusion is pretty much a useless product when compared to USB loading or network streaming.
Wii 4.1U (v449) Wode 2.8A HBC 1.1.0|IOS58 v24.32 bootmii|IOS|boot2v4 Priiloader 0.7 IOS236|d2x-v8final|hermes v4/6 Drive Chipset: GC2-D2C(v1)