I tried updating my Black 2nd Gen AppleTV to the latest version ( as per article HT4448 ) - 5.1.1 but am informed that I am ‘running the latest version’.
Is this due to the jailbreak or am I actually running the latest version of the OS? I know this seems trivial but the most recent update fixes an Ethernet issue which I have been dealing with for some time now.
Yes - the jailbreak suppresses updates.
You can go to the latest 5.1.1 firmware release by doing a restore in iTunes, but in doing so you will wipe the system and lose your jailbreak (and therefore the ability to install any additional software such as ATV Flash). Currently there is no jailbreak for firmware later than 5.0.2 and we do not yet have any ETA for the availability of one.
Thanks for the update! I couldn’t find anything around the interwebs that was concrete in response to my question; you’re answer has helped immensely.
Is there an active group of people that you (or anyone reading this!) knows of that is attempting to jailbreak the 5.1.x updates?