I don't think it's Ableton's fault; it's actually a rewire limitation.
I had the same problem with syncing to a track in 6/8 in Pro Tools, but the same should apply to Logic. My solution was to ignore the barlines in Live, and concentrate on the note divisions. If your clips are in 5/4, just use your five times table to work out where the start of your bars are (5, 10, 15, etc quarter notes), and map this against the 4/4 shown on the arrangement display. So 1 bar clips will start at beat 1 of bar 1, beat 2 of bar 2, beat 3 of bar 3, etc. In my case, I had to do my six times math with eighth notes.
I find that each note subdivision is played exactly in sync.
It's something of a workaround, but it works for me. Hope it works for you too.