We have added SE5 support for PBW. I've not made any news announcements on the PBW site and I'm not posting this to the Strategy First forum just yet. This needs some people to kick the tires and make sure everything works. Please feel free to use it, report any problems. For now just consider this an open beta and treat it accordingly.
Curently there is no command line option with SE5 for mod selection so the only version supported is 1.17. I've talked to Aaron and he is working on adding that in a future patch so at some point we should be able to get the balance mod and others setup.
Have fun, and feel free to make a donation.
Geoschmo