iPhone Dev Team has released a bundle for PwnageTool for Mac and iH8sn0w has also released Sn0wbreeze 2.7.2 for Windows to jailbreak (untethered) Apple TV 2G Software 4.2.2.
Apple released Apple TV 2G Software Update 4.2.2 (iOS 4.3 – build 8F305) to fix some minor bugs and also add an audio output setting for switching to 16-bit audio for compatibility with some TVs and AV receivers.
Dev Team has provided the following details on their blog:
Apple released a minor update to iOS 4.3 for AppleTV2G (the IPSW name still says 4.3, but the build version changed from 8F202 to 8F305). @i0n1c was once again able to quickly port his original 4.3.1 untether (the exploit that wouldn’t die!) to this version.