Yea, the 505's are a bit smaller, but they have leads not terminals. Also the 110T now come with a neodymium magnets at no extra charge, so they will support a larger gap.
Suresh - In case you are wondering, the sheet of 'stickers' that come in the bag can go over the the sensor to cover the terminal screws. Or you may prefer to leave them as is or put a tiny dab of white paint.