tvOS 10.1.1 jailbreak may be possibly release thanks to LiberTV, a jailbreak tool for tvOS 9.1/10.1 created by Jonathan Levin recently released. This utility works on tvOS firmware, up to a maximum of tvOS 10.1. However, Levin can go further, according to what he said in a tweet released today.
The firmware of tvOS 10.1.1 is somewhat equivalent to iOS 10.2.1, in which the vulnerabilities of Yalu have already been patched. Still, it is not known why Levin stated on Twitter that he could increase the coverage of the tool. You may have found a way for your tool to work on the latest version of tvOS through exploits that have not yet been patched. This idea arises because iOS 10.3 comes along with a list of patched errors and by logic these errors are not patched in iOS 10.2.1 (tvOS 10.1.1), so it would be possible to jailbreak of tvOS.
Even so, we advise you to stay in the oldest firmware possible if you want to do the jailbreak for tvOS. If you are currently on tvOS 10.2, we recommend that you immediately downgrade to tvOS 10.1.1 while it is still signed. This will only be possible over the next few days and after downgrading, automatically deactivates automatic updates in Apple TV settings.
If you already have tvOS 10.1.1, turn off automatic updates in your Apple TV settings. If you have tvOS 10.1 or even an older version, do nothing and keep this version installed because LiberTV is already compatible with these firmware.
Hopefully, an updated version of nitoTV will be released soon for use on our Apple TV. Until then, Apple TV 4 users are advised to downgrade immediately from tvOS 10.2 to tvOS 10.1.1. If you are in tvOS 10.1 or lower, leave it as is and do not update it.