The support for Voodoo 5 is totally unofficial. We only really support the Voodoo 3. However, I do have a Voodoo 5 in my own machine and can run things like Heretic II on it without problems, but also without the additional features. This is on a mediator 4000, I didn't try on anything else...
For OS 4 we might have a look at it again and add a bit more of Voodoo 5 support to the driver, as an interim solution until Nova is finished. Don't hold your breath, though :-)