Notcom, the developers of popular SHSB saving software has released an updated version of TinyUmbrella which brings bug fixes for trying to save SHSH blobs on your Apple TV 2G or Apple TV 3G running the iOS 5.0/5.1 firmware. NotCom mentioned on his blog that in previous version they made a silly mistake that was the culprit, but it is now saving properly.
If you face error 3194 which is an issue with attempting to restore and having iTunes not verify the SHSH blob. Some times it may be caused by TinyUmbrella being open and can be resolved by closing TinyUmbrella although it does not work in all cases.
Download TinyUmbrella 5.10.09 for Windows
Download TinyUmbrella 5.10.09 for Mac OS X