A lot of iPhone 4S/iPad 2 users mistakenly upgraded to iOS 5.1 despite the many warnings that there is no way to downgrade to iOS 5.0.1 even if your SHSH blobs are saved, which lost them a jailbroken iPhone.
Those with A4 devices or older can easily downgrade to older firmware providing SHSH blobs are saved, but A5 devices was impossible till today.
iH8snow in a tweet said that he found an APticket exploit which would allow for A5 devices, namely iPhone 4s and iPad 2 on iOS 5.1 to downgrade to older firmware. He has already tried this and it works for all A5 devices.
We have no idea how he did it exactly, but we are happy to see it happening. iH8snow didnt give an exact release date for the downgrade tool. Hopefully, we are getting it soon.
You all also need to have saved your SHSH blobs for the older firmware if you are looking to downgrade.