CAT 5 can have various AWGs. In its use for ethernet, it's carrying very tiny current. When you use it for balancing, it'll be carrying more.
Also, some cat5 is solid, some is stranded. That makes a difference to flexibility, if that's important to you.
Check the AWG of the cable you're about to use, and look up the load capacity here:
http://www.powerstream.com/Wire_Size.htm
I use cat5 to carry small current signals on my bike; I use it for the voltmeter, the ammeter and the 5 volt handlebar PDA supply; six wires in a small (and very cheap) cable, with a couple of spare wires that I'm sure I'll think of a purpose for one day.