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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Looks like they blew their deadline again (20th) cause I'm seriously NOT blown away by that news You would have thought they'd of learned from their last announcement...Don't set yourself deadlines cause your credibility takes a severe beating when you miss them!