Just FYI, the number on the bucket has nothing to do with being "food grade." There are a number of non-food grade and food grade containers made from #2 plastic. The difference comes from the dyes used in the manufacturing process and their leaching temperatures so you really need to check with the manufacturer. Unless the bucket says "food safe" on it, I would call them first. Homer buckets are made for painting so there's no telling what kind of chemicals are in there. If the bucket was actually used to store food at some point (like the icing and soy sauce buckets,) that's a different story.
#5 plastic, on the other hand, has a much higher melting point and is often used to make "food grade" containers for items that are packaged hot. These plastics are much safer for a brewer to use. I would still check if they aren't labeled food safe though.
I skimp on many things in life, but nothing I'm going to ingest. A few more dollars for a safer bucket is a great price for my health and peace of mind.