Your Wiikey will not stop the discs from working, but it alone is not sufficient for them to work. To use these discs, you need three things:
- The ability to boot burned discs, either through a cDIP module in your system IOS or a drivechip. Your Wiikey handles this, so you're good to go on this point.
- The ability to boot homebrew discs. For that, you need a system IOS with the trucha bug. This means either your firmware is old enough (3.2 or older, I think) or you have a newer firmware and patched your system IOS at some point. If you don't have a system IOS with trucha, you will never be able to boot homebrew discs, even with a drivechip!
- Access to the recovery mode. You must enter recovery mode to boot these discs, they won't boot if you just put them in and start your wii.
For UUDv4, you additionally need IOS249 installed for WAD manager. If you don't have that, you can use LCUDv3 to install it.
You don't burn all these files on a DVD, you download UUDv4.part001.rar and UUDv4.part002.rar, then you unpack UUDv4.part001.rar (part 2 gets unpacked with it automatically). This results in an UUDv4.iso file. You burn this with ImgBurn or Nero or whatever. The important thing is, you don't burn a DVD with the iso file on it, but you burn the contents of the iso file to the DVD. Most burn software has a function called "image to disc" or similar that accomplishes this. If you need LCUDv3, you do the same thing with LCUDv3.part001.rar and LCUDv3.part002.rar. If neither UUDv4 or LCUDv3 work for you, the older ones probably won't, too.