Update #2: The b2 version of redsn0w includes the launchctl-related fix by @planetbeing as mentioned by @saurik [Only registered and activated users can see links. ] and [Only registered and activated users can see links. ]. As usual, you can just re-run redsn0w in jailbreak mode over your existing 5.0.1 jailbreak (even a PwnageTool one), making sure to de-select “Install Cydia” if you do. Always be sure to do a controlled “slide to power off” shutdown of your device before running redsn0w.
Here are the redsn0w download links:

  • [Only registered and activated users can see links. ]
  • [Only registered and activated users can see links. ] (be sure to run in Administrator mode)

PwnageTool Official Bittorent Releases

  • [Only registered and activated users can see links. ]

SHA1 Sum = 32e90607378988cdebb6c76d3acf8ffac6366e35