Yes, but the five day period is for the Presidents review. If the President has signaled his agreement to release before that time, then the five day is no longer operable...at least thats how I understand it works. I could, of course, be incorrect.
IMO, Nunes is not going to green-light even a BS argument that he is not following the rules. All that would be "gained" is a one or two day advance on public disclosure.
Meanwhile, the press is hypoing the heck out of this. "The buildup."
Imagine the Sunday morning talk shows being the first time facts in the memo are provided to the press; with the full memo coming a day or two later.