Personally this one goes over my head, but if you like line after line of complete flabbergasting programming then this might be for you, my eyes you got to be a programming geek to know about this one.
Anyway we found over at Engadget Mobile which they found via Toc2rta the TIFF exploit-based firmware v1.1.1 jailbreak code, the iTouch/iPhone exploit source code has been released which of course will work on iTouch/iPhone firmware 1.0.2 and 1.1.1.
Please shed us some more light on how they did it and in fact what it actually does?