Chronic Dev Team has released Corona update to fix the Launchctl error found in iOS 5.0.1 untethered jailbreak, related to iBooks app launch on jailbroken devices with previous version of Corona.
According to Saurik:
“Corona (5.0.1 untether) 1.0-4 is now out: users of redsn0w or the older packages should install. This fixes both iBooks and launchd (again).”
You can install Corona through Cydia, on your jailbroken iDevice, and to know the process to do that click on integrated link.