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/GCVEEB.ini

@@ -7,9 +7,6 @@ EmulationStateId = 5
 EmulationIssues = 
 [OnFrame]
 [ActionReplay]
-$(m)
-010C0B93 88000000
-C4148F04 00001000
 $Max Lovebits
 010C0B94 08000000
 02350350 000003E7