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A quart of oil every 5K miles is nothing to worry about, a lot of new engines burn more than that. I say try it if you want to though, what's the worst that could happen? A lot of people including myself have used it with good results and I have never heard of any problems from using it. I would suggest adding it to relatively clean oil though, so if you are about due for an oil change I would wait until then to add it.
I don't know much about these Prius engines, but bad valve stem seals often cause oil consumption issues and from my experience go bad more than piston rings. The rubber gets hard and cracks with age and no longer seals effectively, allowing oil to get past. The good news is that on a lot of engines replacing the valve stem seals isn't a big deal and can easily be a DIY job depending on the tools you have and your mechanical skills.
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