I actually think Nintendo might be doing the right thing by not releasing it in the US. We have a TV guide channel made by TV guide and if Nintendo released it in the US, they would most likely get sued.
It sounds like an interesting channel and I would like something like that for my Wii. Though the fact that you could watch TV on your Wii sounds pretty cool but kind of weird, especially since you're watching it on your Wii through your TV. But yeah, who knows, maybe someone will do a fan-translation of that channel. I'd like to see that.