I have been trying to get project M working for several months now. It used to work just fine with the same Wii and SD card but just stopped one day. I made a video showing exactly what is happening. I have tried redowloading PM and have tried as many options as I can think of. I am one step away from deleting HomeBrew off of my wii entirely and just starting fresh, but I really dont want to have to do that.
https://www.youtube.com/watch?v=BABKfpZJmGA
https://www.youtube.com/watch?v=BABKfpZJmGA