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iPhone Dev team has released an updated version of Redns0w – Redsn0w 0.9.10b5, which includes the fix for the iBooks issue involving DRM.
Please note that Redsn0w and Corona iOS 5.0.1 Untether jailbreak supports iPhone 4, iPhone 3GS, iPad 1, iPod touch 4G, iPod touch 3G and Absinthe jailbreak and the Redsn0w CLI tool supports iPhone 4S and iPad 2. So this update is not meant for iPhone 4S and iPad 2 users.