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/GWRP01.ini

@@ -7,8 +7,6 @@ EmulationIssues =
 [Video]
 ProjectionHack = 0
 [ActionReplay] Add action replay cheats here.
-$(M)
-C411794C 00000800
 $Always First Place
 0061C57B 00000000
 $Never Out of Bounds