FireCore announced today that they have successfully jailbroken the Apple TV 2 with the latest iOS 5.1 (5.0). The jailbreak is tethered which requires the Apple TV to be connected to a Mac/PC when powering it on (each time).
Today we're happy to release new versions of Seas0nPass and aTV Flash (black) that are compatible with latest 5.0 (iOS 5.1) software running on the ATV2.