An enterprising young man by the name of yifanlu recently developed a new solution for the Amazon Kindle Touch that Jailbreaks it. The new Kindle uses a different operating system then previous iterations of the device line of e-readers. As such, no current current hacks will work on it and they need to be remade from scratch in order to work.
Digging deep in the code this fine young man discovered the Kindle Touch has a built in accelerator, proximity sensor and microphone, but there is no code functionality for it yet. Right now the Kindle Touch does not have the ability to switch to landscape mode at all, which is one of the few drawbacks about it. Yifanlu claims that he is currently developing a solution in order for the native e-reader to read EPUB books, which would be a huge step in the right direction.
Right now the Jailbreaking procedure is relevant only to developers who actually write the code for it. All of the tools are in place for people to do this now with a stable solution that stemmed from Amazon leaving SSH access in diagnostics mode.