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+ltc is right, K denotes the series, the digits thereafter is the compound and whatever after is just gibberish.
K - Series; 05 - improved resin compound; Ti - Titanium backing plate (S for steel, A for alu), rx - Road/Cross
coventry_eagle
You might be right (they look quite similar, but I wish Shimano had added some kind of size reference).
Anyway, I'm glad to report that the K05ti-rx fit great. Also the first ti hardware on the bike, so I'm bound to see some marginal gainz