FireCore has just released Seas0nPass 0.7.7 that features support for Lion and a handful of bug fixes. It’s generally designed to jailbreak your atv2 running iOS 4.3.x (Apple TV 2 4.2.2 software version) but, according to nitoTV, it also supports the latest iOS 5 beta.

Similar to PwnageTool, Seas0nPass allows you to jailbreak your atv2 by creating custom Apple TV IPSW files and restoring them in iTunes. It’s both Mac and Windows.

Here is the tutorial on how to jailbreak your Apple TV 2 on iOS 4.3 (Apple TV 4.2.2) or iOS 5 using Seas0nPass 0.7.7:

Pre-launch checklist

1. Make sure you’re running the latest version of iTunes.
2. Download Seas0nPass: Mac [10.6 or later] | Windows [XP or later]
3. A micro USB cable will be required to complete the jailbreak.

Jailbreaking

Step 1: Launch Seas0nPass and select ‘Create IPSW’.

Step 2: The latest Apple TV software will be downloaded and used to create a custom jailbroken software file.

Step 3: When prompted, connect your Apple TV using a micro-USB cable (leave power disconnected), and hold both the ‘MENU’ and ‘PLAY/PAUSE’ buttons for 7 seven seconds. Apple TV will enter in DFU mode.

Step 4: A message will appear giving you further instructions.

Step 5: Open iTunes and restore your Apple TV (Shift + ‘Restore’ button) from the created custom IPSW file (located in My Documents -> Seas0nPass).

Done!

What to do next?
1. Install nitoTV or aTV Flash (black) to get the access to further enhancements.
2. Instal XBMC to watch Hulu.
3. Check out Remote HD app and atv2 plugin and control your Apple TV 2 with the iPhone/iPad or iPod touch.