WriteTyme, for this agency, I'd say follow the guidelines and send a one-page query letter. Focus on the query itself this round. If they're interested, they'll ask for a partial which will be more than your 5-page-sample.
I know it seems like every agency has guidelines that conflict with every other agency. Consider it part of the test, to weed out some of the 36,000+ queries they each get annually. Research and following directions will get you far.
First off, are you absolutely certain your mms is ready for queries? I queried Nelson and other agencies way too early, and lost a couple of years using query letters that surpassed maximum suckage. (Of course, I hadn't discovered AW yet, either.)
If you're really new to queries, and you haven't done this yet, check out Janet Reid's Query Shark site, for hilarious and informative examples. AW's own Share Your Work Query Letter forum is another place: hang out and help crit others' letters until you reach your 50 posts.
Whatever happens, good luck and welcome to AW!