To reach a 1.1.4 version on my iTouch I have performed the following steps.
Upgraded to 1.1.2
(Basically the above steps I followed the instructions on this page and stopped once I had a 1.1.2 and Installer on my SpringBoard.)
This is a modification of the Windows version I found here.
The MacOSX version can be found here.
Open up a terminal and execute the following:
curl -o 1.1.4_Jailbreak_MacOSX.tar.bz2 http://danb-uk.net/~dan/files/1.1.4_Jailbreak_MacOSX.tar.bz2
tar -xjvf 1.1.4_Jailbreak_MacOSX.tar.bz2
Now wait, if it doesn’t restart then just power off your iTouch and wait a few seconds, then power it back on!
I have only tested this once and I can confirm that my About info is 1.1.4, any feedback is appreciated.
Update: So I had some issues with Installer.App failing to install some packages, but that might just relate to 1.1.4 compatibility of those Apps… Researching further… Update: Just Re-Install the Installer and relaunch it then everything was fine! 1.1.4 Here I am!