There are only a couple of differences between the two models. The Lite-On LVW-5005 is an older model than the LVW-5115GHC and offers the ability to also record Audio CDs, Video CDs and Super Video CDs with both CD-R and CD-RW, which are not available on the LVW-5115GHC.
The LVW-5115GHC on the other hand features MPEG4 playback, DivX certification (for PPV & DRM protected DivX content), VCR Plus+ and 16 program timer, unlike the LVW-5005 which has no MPEG4 or DivX support, only features manual timer entry and a 5 program timer. There are a few other improvements such as more navigation options while playing MP3's and images.
With quite a lot of issues reported about the LVW-5005's internal drive giving early failure (see this thread), I would suggest going for the LVW-5115GHC unless you need to be able to record Audio & Video CDs.
Both recorders feature DVD+R/RW and DVD-R/RW recordable media.