At the time I played this hand, I liked my line a lot. When I started to think about the hand after, I wasn't sure if my flop play was great. I took a flop because it was a limped pot and I was on the button. When CO leads for pot, I decided to smooth call thinking that in a 5 way pot I wanted to see how the other 3 players reacted to the bet (there are definitely a lot of scenarios where I can fold in a 5 way pot if it gets back to me and it seems clear someone has top set). If everyone folded behind me, I planned on getting it in on most turns HU vs the CO. I obv hit prob the best turn card in the deck and got it in against a worse set. CO is 66 BB's deep. Did I make a big mistake by not raising flop? I can't decide if not raising the flop is a big mistake, I think I raise top set here because I never dislike getting it all in on the flop.

Full Tilt Poker $2/$4 Pot Limit Omaha Hi - 6 players
The Official 2+2 Hand Converter Powered By DeucesCracked.com

CO: $265.70
Hero (BTN): $395.50
SB: $209.00
BB: $170.70
UTG: $152.50
MP: $160.00

Pre Flop: ($6.00) Hero is BTN with T T 5 8
1 fold, MP calls $4, CO calls $4, Hero calls $4, SB calls $2, BB checks

Flop: ($20.00) J 4 T (5 players)
SB checks, BB checks, MP checks, CO bets $20, Hero calls $20, SB folds, BB folds, MP folds

Turn: ($60.00) 2 (2 players)
CO bets $60, Hero raises to $240, CO raises to $241.70 all in, Hero calls $1.70

River: ($543.40) A (2 players - 1 is all in)

Final Pot: $543.40
CO shows 3 4 4 6 (three of a kind, Fours)
Hero shows T T 5 8 (three of a kind, Tens)
Hero wins $540.40
(Rake: $3.00)

your line is pretty common
you poralize your hand pretty much to JJxx TTxx when you repop the flop 5way in a limped pot.

Raise the flop every day

I'd definitely raise the flop, especially given stack size of the flop bettor and with 5 people in the hand.

If this is the case, then I think calling is much better because a good player will release J10/44/J4/104 if it looks like I can only raise JJxx or TTxx in this spot and those are the exact hands I want to continue...

If you look at xaxa reply, I think the might be right in that in that spot it looks like I can only have JJ or TT in which case I lose a lot of value from two pair/bottom set hands that are able to release to a flop raise.

You have to consider that someone with villain's stack size is more likely to be a bad player who can't release those types of hands, and also, you want to protect your hand/charge draws especially with so many other players still in the hand.

I should have stated it was a shallow stack table, so the villain's stack size I don't think is an indicator since he is above the max buy-in. If someone has something like AKQx or KQ9x, I am not sure they are releasing on that flop even if I raise. If you are in SB for example with AKQx in a J104 rainbow flop are you folding to a CO bet and Btn raise? There equity against my hand with just a backdoor FD is around 40%+, and if the original better has two pair/set and I have a set, which is definitely possible given the action, they are in really good shape. I think what I am saying is I don't get any of the hands I want to fold out by raising, and a lot of the hands that I want to continue that have low equity against my hand will fold to a raise. I might get something like 987x to fold. I think a definite argument for raising is what is my plan on a 789QK or A turn? I might lose value from hands like two pair/lower set who fear those cards, or I might be behind and it will be tough to know where I am. I guess I decided because I had the button I didn't mind letting the other 3 players peel one off for a pot-sized flop bet in exchange for information on who they reacted to the bet and also to increase my value on future streets.