Um...yes it could.
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They make a subforum for hacking, Nintendo finds out, gg smashboards.
Still. It'd be good to now how the law really does tie into it and it's not as though there aren't other websites out there dedicated to wii hax anyway.
The hacking is not making a profit, the hacking is not hurting Nintendo's original design, the hacking is not claiming to have created a game entirely by people that are not Nintendo.
Basically, as long as we dont claim ownership to Brawl or make a profit off of Brawl+ its legal.
Also, you may make the arguement about tournaments. Also legal because you are paying the money to compete in the tournament and you receive money for winning the tournament. Same way as regular Brawl tournies, as its illegal to pay to play the game, but legal to enter the tourney.