What are the steps to decrypt a TLS 1.1 record?
Is the above example correct? If not, how can the IV to be used for decryption be determined?
  


Yes, it is correct. The vector/mask in CBC mode is generally the previous ciphertext block. The algorithms in 2a and 2b simply extends this notion to the IV so that the CBC mode encryption doesn't have to be re-initialized. The outcome of the IV decryption won't have any meaning, it's the ciphertext block itself that is reused.

In dumb implementations of CBC / block ciphers the re-initialization may take time because it may replay the subkey derivation for the cipher. In general though using the first block directly as IV will be more efficient because it skips one block decrypt.


  
  Is the decryption for TLS 1.1 the same as TLS 1.2?
  


Yes, see below:

opaque IV[SecurityParameters.record_iv_length];
          block-ciphered struct {
              opaque content[TLSCompressed.length];


although described somewhat differently the IV length is the same as the size of the block for CBC. It is directly followed by the "opaque" (encrypted) content.