Seas0nPass jailbreaking tool for Apple TV has been updated to version 0.8.4 that supports a tethered jailbreak for Apple TV 2 5.0.1 (iOS 5.1.1). Released this Thursday, Apple TV 5.0.1 (9B206f) adds HD previews for TV shows and movies in the iTunes store and brings fixes to Netflix, AirPlay and Home Sharing.
FireCore’s Seas0nPass has been updated to provide a tethered jailbreak for Apple TV 2 5.0 (iOS 5.1). Tethered jailbreak means that every time there is a need to reboot your Apple TV, you will have to connect it to a computer. Functionally, both tethered and untethered jailbreak are identical.