While the file on their official downloads page (psjailbreak.com/downloads) is still named "manager.pkg" as the old version at the moment, it does display v1.1 on the screen and offers discless booting (press SQUARE when booting a game) and reportedly features improved PS3 game compatibility.
To quote: "Time will tell very shortly what is true and what is not, here is an earlier chat with them:
[16:21:07] Smeemi: Hi there!
[16:21:15] Smeemi: What are your promotions?
[16:25:16] Smeemi: and is the backup manager 1.1 coming out today?
[16:26:04] PS Jailbreak Sales: Yes
[16:26:11] Smeemi: What time?
[16:26:12] PS Jailbreak Sales: It will be on our site in 30
[16:26:15] Smeemi: 30 minutes?
[16:26:57] PS Jailbreak Sales: Yes
[16:26:59] Smeemi: Thanks
[16:27:09] PS Jailbreak Sales: Your welcome
[16:27:52] Smeemi: Any good features ?
[16:28:55] PS Jailbreak Sales: Compatibility with more game and ability to play with no game in disc drive
[16:29:09] PS Jailbreak Sales: We have been working more on updates fo 3.42 and 3.5
[16:29:15] Smeemi: Ok, great!
[16:29:16] PS Jailbreak Sales: That is more important for our dealers and users
[16:29:36] Smeemi: Compatibility wise.. do games like Modern Warfare 1/2 work now
[16:29:36] Smeemi: ?
[16:31:35] PS Jailbreak Sales: Yes
[16:31:53] Smeemi: Thanks"
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Can't wait for them to release there fix for the latest firmware. Although, by the time they release it ps4 will probably be out. Unless of course another dev figures it out, i am sure they will instantly release it then. =D
The file on their official site... although the link says backup manager 1.1 its still 1.0 LMAO!!! I'm gonna try the file that was linked here and if anybody wants screen shots then i'll gladly up a few...?
I don't think NTFS support can be done in the loader. Sure the loader could open an NTFS drive and read the games on it but then the PS3 couldn't start the game because the System doesn't know NTFS.
So there is also a driver/plugin needed that reads NTFS for the System (like on the Wii the IOS that simply gets the raw position on the HDD from the loader and then reads the raw data from the drive, file-system independent).