Is there any chance of tiny umbrella failing when trying to restore to an earlier iOS if you have the blobs saved? Cause I only have 5.1 blob for my iPad 2, I want to upgrade to save the 5.1.1 blob and downgrade back to 5.1 so I can jailbreak it when pod2g releases the 5.1 untethered jailbreak
Okay, first, you don't need to be on a particular firmware in order to save blobs for it. Tiny Umbrella will save blobs for whichever firmware Apple is currently signing. Doesn't matter AT ALL which iOS your iPad is on.
Which is good news for you, because you do NOT want to upgrade to iOS 5.1.1. If you upgrade to iOS 5.1.1, you will not be able to downgrade back to iOS 5.0.1 - as it stands today. While we still encourage people to save blobs "just in case," they don't work for the iPad2 and once you've upgraded, you're stuck there.
In addition, it's not Tiny Umbrella that you use to restore a firmware. All Tiny Umbrella does is save the SHSH blob and then act as a server for the actual jail breaking program to do the work. And, so far, Tiny Umbrella has never not properly saved a blob, that I am aware of.
So, run Tiny Umbrella now, while the window is still open for iOS 5.0.1 blobs. Then, in a short while, I am sure the developer of Tiny Umbrella will update it so it can save the blobs for 5.1.1. Then, save those. But, there is nothing to do right now except wait for a jail break, whether it's for 5.0.1 or 5.1.1.
Again, all I can tell you today is: Until further notice, save 5.0.1 blobs and do NOT move off of iOS 5.0.1 if you want to jail break.
Marilyn