Mie, depends on what your doing. If you want brighter white light with good par value and coral growth...I would have to say T5. If you want good, deep, color popping actinic, VHO. Just my opinion. Having actinics with both, the vho's win hands down. And having seen what the same size T5 do over the VHO on the white side...night and day.
I have never personally heard of anyone doing it, but depending on tank/bulb size. You should be able to use both on the same ballast, I'm thinking.
Say a 48" tank with 2-T5 10K and 2-VHO Super Actinics, or 3-T5 and 1-VHO on a single Icecap 660 ballast. But with the 660, they all come on at the same time. That can be separated by using 2 ballasts. Either overdrive with 2 660 or save about $40 by buying 2 430's.
Let me reiterate. I am not sure if both types of bulbs can be run by the same ballast at the same time. But I don't see why it couldn't.