I finally got it working 5K @ 60 Hz. Dell 5K UP2715K w/ GTX 980 Ti.
Here is what I tried that didn't work:
1) Powering off the monitor completely from the power cord. Then plugging it in once the system was booted. Some other forums were saying the monitor is extremely buggy and can get into a bad state pretty easy. I saw some weird stuff earlier with flickering, half the screen, black screen, power button stuck so I can't turn it off without unplugging it.
2) Leaving the monitor plugged in while it was booting did not work either. It just had a black screen the
entire time. I have an older BIOS and that doesn't show in the monitor either.
3) Experimenting with different Nvidia driver versions did nothing.
Here are some things I did that might have made it work. Can't say which one it was since I'm not sure.
1) I ran multibeast again and tried some slightly different settings. I had all the same settings in terms of graphics card. I did however set the SMBIOS to MacBookPro8,1. I think that might have helped.
2) I DID NOT set nv_spanmodepolicy=1 (I actually forget to add it but it seems like the latest driver doesn't need it?)
3) I DID NOT need to use Chameleon Wizard after running Multibeast.
4) I had the 346.02.02f03 web driver installed. I also installed the CUDA driver 7.0.36 BEFORE installing the web driver.
My suggestion if you can't get it working.
1) Use another monitor plugged into the DVI port so that you can see what you are doing.
2) Install the latest CUDA driver.
3) Install the latest web driver.
4) Run Multibeast and choose the MacBookPro8,1 preset.
5) My kernel flags: GraphicsEnabler=No IGPEnabler=No kext-dev-mode=1 PCIRootUID=1 nvda_drv=1
Note: I do NOT have nv_spanmodepolicy=1 set. Not sure if it makes a difference but I'm not going to jinx it by testing to see if that made the difference.
Note: If your monitor starts doing weird stuff yank the power cord so it clears whatever state it has saved. Keep it unplugged for at least 30 seconds, maybe a minute (not sure about timing but I usually tried for that range).
I hope this helps someone. If you have specific questions about a setting or want me to look something up feel free to ask.