I tried it.
I can see the title in the select game menu but it couldn't be booted.
Maybe because there is no "game.iso" when using GCReEX.exe (this makes "root" and "sys" folder).
When I select the iso which was used DiscEX-v0.8, the message said something like "found game.iso!", but tooooo slow loading or not booting.
When I use "DIOS MIOS booter", a GC USB Loader, I can play very comfortably (But able to use only AR codes. it can't use Ocarina Cheats) .
[edit]
Oh my god I became disable to launching GC from USB device even DIOS MIOS booter...
maybe because of Installing "RVL-cMIOS-v65535(v10)_WiiGator_WiiPower_v0.2.wad".
I tried uninstall it using "Wii Mod" but I couldn't and occured error.
[edit2]
Somehow I could boot again using in case of DIOS MIOS booter