Actually, it looks like they are having problems with it...
From Jailbreakme.com
"Verizon users should avoid JailbreakMe for now and use Redsn0w 0.9.6rc18 instead.
If your device is stuck on the Apple logo despite rebooting: hold the home and power buttons for 10 seconds, let go of power and keep holding home for 15 seconds, and then iTunes should be able to restore your device."