I installed my wiikey2 with the clip and while i still had it open everything worked fine. I'd put in a disc and it'd flash red and blue then it would spin and load just fine. I put it all back together, powered it up and tried again and the disc wouldn't suck itself in. So I pulled it all apart and found that as soon as i turn on the wii the red and blue lights on the wiikey 2 begin flash and they don't stop; it also refuses to suck in a disc in this state. If i pull off the clip my wii works fine.
So I'm thinking its probable that some of the contact aren't very good (bent pins or faulty clip). I've tried to re-seat the wii clip a couple times now and keep getting the same problem.
Maybe I should just de-solder the wiiclip and try soldering the wiikey rather than going the solderless route?