Is there a methodology/app that allows for Splunk replication (i.e. .conf files, indexed data) in the newer 5.0 version?
There is replication for data:
http://docs.splunk.com/Documentation/Splunk/5.0/Indexer/Aboutindexesandindexers
Are you specifically asking how indexed data can be replicated in Splunk 5.0, or how common configuration is managed and replicated among cluster peers? Those are two very different topics.