They both run 157 tooth flywheels, but the 94-95 starter is different, in that it has different wire hookup points, I think. they are also different prices, and different p/n. there are definitely differences in design, just cant remember what, and Ive had two of them side by side!!!
The 94-95 5.0 starters are considered "mini high torque" starters.. the casing is a lot smaller than that of our foxbody counterparts.
And i think the mounting holes are different when they changed the bellhousing for the 94 year... so i doubt it will fit.