I currently have a 1.1.2 iPhone that is jailbroken using jailbreakme.com. It works perfectly. If I download and install iDemocracy, will I be able to just use it as a file browser as well as all the other cool features like ringtones and such? or do I have to downgrade my iPhone, then rejailbreak it?

I am hoping All I need to do is just run it and it will work. I have been trying to read up on this but haven't really found the answer.