*x refers to the first array ({1,2,3,4,5}), and is equivalent to x[0]. Adding one to x move to the next array, so *(x+1) would refer to the second array, and would be equivalent to x[1].
*(*x + 2) is therefore the third element in the first array, which is 3. This means that *(*x + 2) + 5 is equal to 8.
The parentheses matter a lot, for example *(*(x+2)) would be the first element in the third array.
*(*x + 2) results in the same value as *(*x) + 2, but does not use the same element of the array.