No Slysoft or Elaborate Bytes software will facilitate the ripping of Wii games.
In order to do this you would need specific DVD readers such as a few LG models. Due to the fact that they have the abilities they do the prices people sell the drives for is inflated.
You will need specific software for ripping the original disc to create an ISO and then any software that burns ISO images can be used for burning the resulting backup.
You will also need to modify your Wii console. You always run the risk of bricking your console in the process of modding.
Personally, I don't recommend modding a console to do this but that's just my opinion.
One guide on making Wii backups is here:
http://forums.afterdawn.com/thread_view.cfm/471073.
I take ZERO responsibility if anyone does any of this and bricks their console.