I recently got an Ipad to use in my preaching and teaching. I was initially discouraged that there was not an alt/tab function to switch between applications (i.e. class/sermon notes and Logos app). With the release of IOS 5 there is now an easy way to use your notes and Logos app in preaching and teaching.
First, you need to make sure that the apps that you are intending to use are already open. In my case this means Goodreader and Logos.
Swipe up with four fingers from any screen to reveal the multitasking bar (this was a little uncomfortable at first, but I have been just using the back of my fingers which feels more natural). I will open my notes in Goodreader first since I like to have my notes on my left. Next, make the same up-swipe to open your Logos app. Now you have two apps open side-by-side. Using the four finger swipe you can move left and right across the screen between your notes and Bible.
I hope this is as useful to some as it has been to me.