Centro is very much the right "type"of runner to make an easy enough transition from 1500 to 5k; he's fast, but he's got a speed and a stride that are smooth rather than hard. He doesn't muscle out the 1500 the way 800m/1500m guys like Makhloufi or Souleiman do, and lord knows it's a crowded field in that event...
It would be truly crazy to see Centro opt for the 5k *over* the 1500m, but I do not think that doubling would be that tough, and leaving the options open for the Olympics would be cool to see.
But to speak more directly to Rojo's point--it really comes down to the Farah question. With a 13:20 PR, Centro definitely could make the team, possibly even win the Trials. But it's when you account for the international field--Farah particularly--that things start to look dicier. We've already seen Farah dust Centro in the 1500m, so it seems unlikely that Centro would have the wheels to get him the gold, assuming Farah is running and not too tired from the 10k--but these 5k championship races have been so tight in the past years that I have to think that, yes, the best hope would be in Centro. He has the wheels to close in 52, depending on the pace, and when you're that good, anything is possible.
Truth be told, when you consider how stacked the international field is in the 1500, then consider what it looks like in the 5k, Centro's chances of getting gold in the 1500m may not actually be *that* much better than getting it in the 5k. In fact, they might even be worse...