The latest version of Apple’s mobile operating system, iOS 5, brought a number of new features and improvements. One of the most welcomed changes was the revamped notifications system with unobtrusive banner alerts.

But as usual, the jailbreaking community takes this feature a step farther. A new tweak has just surfaced in Cydia called Vexillum that allows you to customize both the background and font colors of your notification banners…

The utility is fairly straightforward. After installing Vexillum, you can access its features in your Settings app under the tab of the same name. Here you’ll find the customization options, and a link to email the developer for support.

Vexillum works as, if not better than, advertised. It’s stable, and any changes you make take effect immediately without the need to respring. And best of all, it’s free. Vexillum is available now in Cydia, in the ModyMyi repo.

Have you tried Vexillum yet? What do you think?