I will give you a differing take on this question. First off, there is no such thing as FWSM 2.1 anymore. Due to the delay in releasing this version, we have re-numbered the next releases as 2.2. And, indeed, it should be available for download on CCO within the next 2-3 weeks. However, I would not upgrade to this release as soon as it is available unless you need some of the new features that are only in FWSM 2.2 code. This is going to be a *big* release. If you have no need for transparent firewalling or virtual firewalls or any of the other new features that are being added, I would suggest sticking with the 1.1 release train for now. I would also suggest upgrading to 1.1.3 as there have been *many* bug fixes integrated since the 1.1.2 release.
Hope this helps somewhat. Upgrading is always a balance between the risk vs the features you need. If you don't need the new features, wait a while to upgrade and stick with what you know already works for your environment.
Version 2.2 will support "multicast passthrough" which means that you will be able to natively pass multicast traffic through the PIX with normal ACL's and translations. A follow on release to FWSM 2.2 will support full PIM mode. Does this help?
It should be available on CCO next week. And as Nadeem correctly pointed out, multicast pass-through will only work in the 2.2 release *if* you have a transparent firewall configured. Sorry if I implied differently.
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