Notcom have released TinyUmbrella v5.11.00 for Windows and Mac with support to save SHSH blobs for recently released iOS 5.1.1.
Download TinyUmbrella v5.11.00 for Mac
Download TinyUmbrella v5.11.00 for Windows
See also:
Download iOS 5.1.1 for iPhone, iPod Touch and iPad
How to Downgrade iPhone 4S, iPad 2, and iPad 3 with Redsn0w
How to Save SHSH Blobs with TinyUmbrella
How to Save SHSH Blobs with iFaith