Goddamnit. Forgot that Master codes are also abbreviated as (M).

Ok. NOW  issue 6367 : https://code.google.com/p/dolphin-emu/issues/detail?id=6367 is fixed.

I wish I'd remember these things before committing and not after.

Data/User/GameConfig/GCCE01.ini

@@ -7,9 +7,6 @@ EmulationStateId = 4
 EmulationIssues = 
 [OnFrame]
 [ActionReplay]
-$(M)
-04EC59D3 88000000
-C418D2E0 0000FF01
 $Infinite Health: Single Player
 04EC59D4 08000000
 0410B494 A0A3001A