The Wiikey Fusion has been confirmed to work with multidisc games using a SD card swapping method. When asked to switch discs simply swap the SD card to a SD card with the next disc .iso on it and flip/press your lid/open closed switch. There is however one other catch.
When adding games to SD card it seems that the Wiikey uses whatever "slot" the game is loaded to to identify what image to mount if the SD card is removed and reinserted during gameplay. So if on one card you have 5 games and on another card you have 3 games and the multidisc game you are playing ends up in a different slot than it is on the first SD card. The trick will not work. Ex:
SD card 1:
1. game x
2. game c
3. game v(disc1)
SD card 2:
1. game v(disc2)
2. game p
3. game d
This will not work! The game needs to be in the same "slot" as such:
SD card 1:
1. game x
2. game c
3. game v(disc1)
SD card 2:
1. game q
2. game p
3. game v(disc2)
This would work. I'm not 100% sure how WBFS manager arranges things on the card and why. Honestly the best way I can say to play a multidisc game this way is to just go buy two 2gb SD cards and put disc 1 on one of them and disc 2 on another.