I have absolutely no idea why you are using redsn0w on the iPad 2. The two things don't go together.

If you have the 4.3.3 SHSH blobs saved. All you need is to use TinyUmbrella to downgrade your firmware to 4.3.3

Please follow the Guide from iClarified. I don't put too much stock on any other sites coz they're just crap.

How to Downgrade your iPhone Firmware using TinyUmbrella

This Guide is for the iPhone but it will be the same with the iPad 2

If you are using a 3G iPad 2 (not a wifi only version) then you may encounter some error since your iPad 2 baseband would have been upgraded and there will be baseband incompatibility error (newer baseband with older 4.3.3 firmware etc etc). Supposedly you can kick that out from recovery also using TinyUmbrella.

No redsn0w should be use in this exercise.

Once you have successfully downgraded to 4.3.3 just visit http://www.jailbreakme.com and you'll be able to jailbreak the iPad 2

Update your ipad 2 to the current ios(which is currently 5.0.1) ONLY WHEN YOU FULFILL ALL BELOW CRITERIA;

a) you can't downgrade to the one n only jailbreakble(only untethered,NO TETHERED jb for ipad 2) ios for ipad2,which is 4.3.3,
b) u don't know how to downgrade it yourself,
c) u can't even upgrade to the future-working jb for ipad 2,which ios 5(not ios 5.0.1)
d) your current ipad 2 ios 4.3.5 is non-jb n looks dull.

After fulfilling all of the above,then might as well u update to the current firmware as u got nothing to lose..just make sure,after update to the latest firmware,stay up-to-date with the jailbreaking community(websites) n pay attention to the news,for example;

this,
Ipad 2 jb video

and this,
update warning

It means that u have to update to ios 5 only,because they have proven video of a working jb in ios 5,only it's not release n need to perfect it..The jailbreak community will always give an update whether is it safe to update your firmware for your device

Good news, Pod2G just figure some exploit ooooo.
If he JB A5 Devices i will buy iPhone 4S

ipod2g claimed jailbreaking for A5 in progress, and the major technical issue have been solved..........should be ok

i just buy new ipod2 the version is 5.0.1 can i jailbreak it? any offical software to jb it?

its juz a maybe bro. and pod2g also said might see something around next week 
and he also confirmed that 4s and ipad2 user need to update their ios to 5.0.1.
time to update now guys ^^

are using Absinthe v0.2-windows or CLI?

anyone able to jb using Absinthe v0.2-windows?
stupid Q's.

if my windows itune doesn't have ios 5.0.1, can i backup and restore it on ipad2 (ios 5.0.1)?