Since there are various threads on other topics with discussion of this, figured we could have a thread for it alone.
I have tested PDANet on my Razr Maxx with the JB update. The WiFi hot-spot feature for internet access doesn't work for me. However, the Bluetooth mode is working for me just fine. In my particular case this is good for me, because I would only need this feature to power my Xoom tablet when out of WiFi range.
Maybe the dev will be able to fix this in the future to enable to hot-spot feature in JB.
The other method is to root and change the entitlements with SQ Editor.