I heard Nabi would be releasing a port of Toribash for the Wii. Is this false/how would it work?

Rumors have been around for a long while.
We also haven't had any news on it for a long while, but as far as I know it is an actual Nabi project.

I personally think this would cause massive fail to toribash because of mass amounts of 8 year olds wanting to play.

There already are a couple of 8-year-olds playing Toribash. A lot of 8-year-olds try too, but they generally quit because of the gameplaying experience and the difficulty curve. I think a Toribash Wii-edition would be no different.

it would be pretty cool to put tori on some platforms...
and why is this in support?

Because I thought it didn't fit in The Game?
Also, there probably wouldn't be a swarm of 8-year-olds to play. Why? Because the only way I know that they could possibly do this is through Homebrew, which 8-year-olds most likely wouldn't know about or know how to do.

Rumor has it that toribash fo the Wii is currently in development, and will be released as a downloadable game in the Wii shop channel as Wiiware.

Yes, lots already knew the info given above...but any idea of when?

If this does happen, Wii probably wouldn't be able to work with the PC version.

I know another game based on physics that moved to Wii, and they originally tried to keep the physics the same, but it was nearly impossible.

If any of the interview with Hampa about it are to go by the Wii version will be Wiiware & you wont be able to play against PC players.

I can confirm that it's being developed, but I have no idea when it'll be released.