You can download the emulator here.
Recent changes include:
- Super Game Module (SGM) hardware emulation
- 24c08 and 24c256 EEPROM emulation
- Display enhancements (GX+VI, 16:9 correction, 240p, Full widescreen, bilinear toggle)
- Hierarchical file navigation support
- SMB (Network support) for loading ROMs
- Multi-save slot support
- Support for launching via WiiFlow (and returning)
- Updated to latest versions of devkitPPC (r35) and libogc (1.8.23)
For status updates, known issues, or to provide feedback please visit the WiiColEm forum thread.