Hi,
My H1B petition was approved in May 2006 and stamped in Oct 2006 but never travelled to US. My current employer is willing to file a new petition this year. Am I cap exempted?
You are not cap exempted. Check with your Immigration team.
Most likely He/She could be CAP exempted. The approval can be used to cap exempt petition till 6 years of its expiration date. 2006 approval may have 2009 as the validity date. So, it could be valid to refile under no cap till 2015 May.