The verdict is in from the team who brought you the Evasi0n jailbreak. Confirmed via Twitter, the newest version of iOS, 6.1.1 beta 1, does not patch the exploits used by the jailbreak tool released earlier this week. However, it's important to note that the jailbreak tool does not support this version of iOS, so it's still not recommended to upgrade.
It's likely that a future version of iOS 6.1.1 will block the exploits used by the jailbreak, though the enhancements brought by 6.1.1 beta 1 aren't useful for most. The major additions to the version are enhancements to the Maps app in Japan. We'll be sure to keep you up to date with the latest happenings in the jailbreak world.