When I got there at 1255, the 'food' was a selection of fruit, a couple (literally) tired looking cold cuts of meat, 5-6 pieces of cheese and a random selection of a few bread rolls; hot food apparently stops at 1230.
I would think that at midday, the lounge looks a bit bereft as the main idea is to service the early Asian and transatlantic flights where you have tried to sleep through the flight and breakfast so you arrive "crumpled and hungry". If I arrived later in the day, I think I'd just want to get out of T5 and go home. However, if they advertise a 2pm closing time then they should indeed provide the service until then.