Hackers at FireCore has just released another Jailbreak tool for jailbreaking Apple TV 2G running iOS 4.3
Seas0nPass creates or "cooks" a fully customized iOS which you can then restore through iTunes and then boot at a jailbroken state.
Seas0nPass offers more features to the Apple TV, and jailbreaking it allows other developers to take advantage of it and make other modifications as they please.
This version of Seas0nPass enables users to modify subtitle sizes and colours.
Download Seas0nPass here