It's working now!
this page for more information and how to check. But if the next update is ICS then all bets may be off, since it's a whole new version of Android. We'll have to wait and see.
I have WinRAR associated with .zip file types, so if I double-click a .zip file it opens in WinRAR. (Otherwise, I would open WinRAR and then navigate to the motofail_windows.zip file and double-click it. Same result.) For this particular file, when it opens there is one folder displayed, called motofail. You just drag and drop the motofail folder to your desktop and WinRAR will extract the folder to that location. At that point you can close WinRAR, because it's no longer needed.
Double-clicking the motofail folder on your desktop will open the folder and reveal eight files. Make sure all eight are there or you did something wrong in the steps above. After connecting your Bionic in USB debugging mode, double-click the file called run.bat. This is a batch file, which means it executes a series of commands. You should see a black command prompt window with scrolling text, giving you the output from those commands. Follow the instructions in the command prompt window to complete the root process.