Although an August 1995 authorization date is given for the development of the B61-11, the project appears to trace back to the W-61 EPW (earth penetrating warhead) project begun in 1989. The EPW was also a derivative of the B61-7, packaged in a high-strength steel case, and had gotten as far as production engineering in 1991.
The B61-11 has a reported capability to destroy targets at depths of several hundred feet at its highest yield setting.
Efforts are currently underway at Sandia to develop a new weapon using the B61 warhead package. This is the BIOS (Bomb Impact Optimization System), a guided glide bomb that would permit release of nuclear weapons at a greater range from the target, and by using the GPS satellite system would permit delivery with 1 meter accuracy. B61 Development Schedule
4 August 1960
Sandia and LASL authorized to study light weight FUFO bomb
16 October 1961
Program to develop light weight FUFO bomb initiated
18 January 1963
FUFO bomb designated TX-61
20 August 1963
Free fall ballistic tests begun on bomb
May 1965
Production engineering of B61-0 begun
October 1966
First war reserve quality B61-0 built
21 December 1966
First war reserve quality B61-0 accepted into inventory
January 1967
Quantity production of B61-0 begins
January 1969
Quantity production of B61-0 ends
February 1969
Quantity production of B61-1 begins (later modified to Mod 7, still in stockpile)
April 1971
Quantity production of B61-1 ends
April 1972
Development engineering of B61-3 and B61-4 begins
May 1979
Development engineering of B61-7 (conversion of B61-1 begins)
August 1979
Quantity production of B61-4 begins
October 1979
Quantity production of B61-3 begins
May 1983
Quantity production of W-85 begins (later converted to B61-10)
September 1985
Quantity production of B61-7 begins
April 1989
Production engineering of B61-10 begins (conversion of W-85)
June 1990
Quantity production of B61-10 begins
August 1995
B61-11 development authorized
February 1996
Drop test of B61-11 conducted in Alaska
January 1997
B61-11 enters service, quantity production of conversion kits begins
Deployment
Initial manufacture October 1966
Quantity manufacture begins January 1967
Initial deployment 1967
Approximately 3150 B61 bombs of all mods have been manufactured.
Currently in service: 600 tactical bombs (mods 3, 4 and 10) and 750 strategic bombs (mod-7). Mod-7s are currently being converted to Mod-11, which can be used in either a tactical or strategic role.
Of the 12 mods manufactured, 5 remain in service. The oldest bombs are arguably B61-7 bombs (converted B61-1 bombs), manufactured in their original model starting in 2/69, but since rebuilt (starting in 9/85). The oldest mod currently in service is the B61-4 first manufactured in 8/79. The "newest" bombs are the Mod-11, but these are just Mod-7 warheads repackaged in a new body.
http://nuclearweaponarchive.org/Usa/Weapons/B61.html