no, to get a newer jailbreak you have to restore the ipod touch and then update the ipod touch and then download the jailbreak. that is a huge con for jailbreaking.
How to jailbreak my iPod touch
No currently there is no jailbreak available for the ipod touch 2nd gen
You can turn off the iPod Touch if you jailbreak it.
You cannot put themes on an iPod Touch without the jailbreak.
Yes, you can "Undo" a Jailbreak, by going into iTunes and Restoring your iPod Touch, or iPhone.
Yes you have to jailbreak
Updating the iPod Touch software erases the jailbreak. You can update, but it will erase your jailbreak.
yes it can. But to stop that from happening, when the jailbreak starts, DO NOT unplug your Ipod touch until the thing says jailbreak's done. The jailbreak is done when you see alot of colours on the screen of your Ipod touch.
You can use several tools to do this. Just google "iPod Touch 4th gen jailbreak" to find one that suits your needs
No because if u do it will erase your whole jailbreak.
to jailbreak your ipod 4.1 go to greenpois0n.com