freezetech
A few have tried this idea, the only problem is , that is is dependant on the angle you hold the pen, most noticable on a projected image, when writing down low.
I use a IR-Led on the tip of my pen with no problems, I only need to rotate my body a few degree out to ensure the Wiimote can see my pen.
Which IR-led are you using? If you use the Vishay TSAL6400 you will find your IR-Led tip problems will be resolved.
Benpaddlejones