iPad 2: Downgrade from 5.1.1 to 5.0.1

               
The developer team behind the jailbreaks has released a major update for the Redsnow tool that allows you to perform jailbreak, something that is not possible with the iOS 5.1.1. Keep in mind that this only for the iPad 2 and iPad 3. Also, you need to have SHSH blobs saved on Cydia or locally, otherwise, this post will be useless for you.

First, download redsnow 0.9.11b1 from here (Windows / Mac) and start it. Now, connect your iPad and click on extras on the computer. Now click “even more” and then on “Restore”. Click on IPSW and browse for the iOS 5.0.1 firmware. If you do not have it stored on your computer, you can get it from here – iPad 5.0.1 IPSW download. You will also require the iPad 5.1.1 IPSW which will be asked by Redsnow in the next step.

If you have the SHSH blobs saved locally, click on local and point the app to .plist file that contains the SHSH blobs for your iPad. Otherwise, if they are saved at Cydia, click on the Remotebutton and the application will automatically put your iPad in recovery mode to get the required files from the Cydia servers.
iPad 5.0.1 jailbreak

Now, click on next and let the app do the work. After a while, you will find your iPad running iOS 5.0.1.