T5 is not about the shape. T5 is about the diameter. All fluorescent bulbs have a number, this number is an 8th of an inch. T5s are 5/8" in diameter. T5HO are 5/8" of an inch, High Output bulbs. Because of their small diameter, more can be fit into a given area. Given individual reflectors, they are VERY intense and give out high PAR readings. As Luke said, they can be overdriven by an Icecap ballast, which will produce even more PAR, but shorten the life of the bulb slightly. Cooling the bulbs, by blowing a fan across the "labeled" ends will also produce more PAR. Another huge advantage of T5HO lighting is the color assortment that's available. You can make slight adjustments to color by mixing different bulbs, to get the color you like.
Totally agree about the color assortment. And imo mh's can't come close in the blue like t5's, especially when it comes to intensity and par.