The iPhone Dev-Team has compiled a special version of redsn0w meant for those with the older (non-MC) iPod touch 2G.
If you have an iPod touch 2G whose serial number begins with “MC” you would fall into this category. Remember that you are currently restricted to “tethered” rebooting. That means you need to connect your device to a computer to complete the boot after a reset. Also, these devices cannot have custom logos.
The Dev-Team warns not to try this version if you have a newer iPod Touch 2G or if you’re not completely sure what version you have. And of course don’t try it for 3GS or ipt3G either.