1) if i'm not mistaken, the rules about can only upgrade to iOS 5.1 now because Apple stopped signing iOS 5.0.1 only applies to A5 devices. iPhone 4S and iPad 2. also maybe including the new iPad.
= so probably you can downgrade.

2) again if i'm not mistaken, starting from iOS 5, you cant easily downgrade or upgrade. it depends on currently which iOS is Apple still signing.
= so since you already go up to iOS 5.1, probably you can't downgrade now, too late. Apple not signing iOS 5.0.1 already. not to mention u also have no SHSH saved.

hope others can clarify, TQ.

i think he meant his camera's flash.