If you shorten everything to five-letter names, it's not really that surprising that it becomes an issue - And I mean, what's the real point of abbreviations when they are so short that it makes it harder to read the code?
Edit: It's worth pointing out though - if this is really old C code it may be justifiable. Back in the olden days of C (Older then C89 at least), only the first 8 characters of a symbol actually mattered. "blahblahone" and "blahblahtwo" would resolve to the same symbol. So shortening in this way could be necessary.
This is an issue of names being similar. No matter how long a variable name is, if another variable name in the same namespace is superficially similar, this kind of thing can happen.
On the other hand, if there are no other variables with similar names, then you can abbreviate all you want and your chance of collisions will not increase.