The Airport Utility app allows users to manage their Wi-Fi Network and AirPort base station routers such as AirPort Express, Airport Extreme and Time Capsule.
Here’s a description of the AirPort Utility app for Mac according to the knowledge base document on Apple’s website:
Use AirPort Utility to set up and manage your Wi-Fi network and AirPort base stations, including AirPort Express, AirPort Extreme, and Time Capsule. See a graphical overview of your Wi-Fi network and devices. Change base station and network settings, or manage advanced features such as security modes, wireless channels, and more.
The update for the AirPort Utility app for Mac OS X Lion is available via Software Update.
Along with the updated AirPort Utility app, Apple has also released AirPort Base Station and Time Capsule Firmware Update 7.6.1.
This update is for all 802.11n AirPort Express, 802.11n AirPort Extreme and Time Capsule models. It fixes an issue with wireless performance and provides support for remote access to an AirPort disk or a Time Capsule hard drive with an iCloud account.
The firmware updates can be installed via Airport Utility on the Mac or iOS.
[via Mac Rumors]