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...