Unless Nintendo did a firmware update that changed system functions, the fans stay off in standby mode even if WiiConnect is left on which did lead to a number of fried GPUs as some here have experienced.
I don't personally see much benefit to the function (in all fairness, I rarely use my Wii anyway) and always hold the power button until the red LED shows when powering off.
From what I remember, standby mode on the Wii uses something like 10 watts of power, which isn't exactly negligible.







