Atlast this weekend I was able to successfully jailbreak(Untethered) my apple tv 2 (4.4.4) using Seas0npass. Followed the instructions from here.
I was able to install nitoTV, XBMC (11) successfully. There was freeze while using XBMC and Airplay. I had to update the XBMC settings to allow airplay. Installed IceFilms plugin on XBMC to get the movies from MegaUpload. There was a script plugin error: plugins.video.icefilms.
After doing some research found out there was some change on the MegaUpload side, so had to modified Megaroutines.py file as per the suggestions on this thread. Working again.
Hope there are no more issues.