As expected, the latest version of Redsn0w 0.9.9 beta 8 also works on the iOS 5.0.1 beta 2 with tethered boot support. The key member of iPhone Dev Team, has just tweeted over twitter that the existing version of Redsn0w can allow you to perform tethered boot on your iOS 5.0.1 running devices except the iPad 2 and iPhone 4S.
The day before yesterday Apple released iOS 5.0.1 Beta 1 for Developers which fixed the security flaw of iPad 2 smart cover, Battery problems of iPhone 4S and iOS 5, and they updated SIRI with more languages support.
It was not long when the Dev Team updated their Tool Redsn0w with the support of iOS 5.0.1 Beta 1. Apple couldn’t hold up with iOS 5.0.1 Beta 1, So they released iOS 5.0.1 Beta 2 today. The change log is not out yet for the iOS 5.0.1 Beta 2 yet. But no need to worry. You can perform OTA update for it.
The rest remains the Jailbreak. So no need to worry about it because the Beta 2 can be Jailbreaked with the last released Redsn0w 0.9.9b8.
Once again the Jailbreak is Tethered and no new support for iPad 2 or iPhone 4S is added so far because the iOS 5.0.1 is in Beta. And the Jailbreak is Untethered for people on iPhone 3GS old Bootrom.
*To update to iOS 5.0.1 Beta 2 is not recommended. If you rely on an Unlock then don’t try to update. Just stay on iOS 5.0 and wait for the proper Jailbreak to arrive.