Preloader 0.29 does not work with HBC1.0.5. The change in the TitleID of HBC will cause preloader to not be able to find it. If you have HBC 1.0.5 I would downgrade it if you are still on firmware 4.1. If it brick you will not be able to get to HBC from preloader.by viper831 - Getting Started
I have already updated my channels with WiiSCU on my 4.1u firmware and have access to the shop channel again.. No Problems for me. I didn't update any of the IOS just the channels.by viper831 - Homebrew Applications