Step 1: Use the fraction of energy in translation:
For rolling, the ratio of translational KE to total KE is $\frac{1}{1 + I/(mR^2)} = \frac{1}{1 + 2/5} = \frac57$.
Step 2: Link to speed:
Total KE is $mgh$ in both cases. Translational KE $\frac12 mV_1^2 = \frac57mgh$, while $\frac12 mV_2^2 = mgh$.
Step 3: Divide:
$\frac{V_1^2}{V_2^2} = \frac57$, so $V_1 : V_2 = \sqrt5 : \sqrt7$.
Final Answer:
The ratio is root 5 to root 7, option (D).
\[ \boxed{\sqrt{5}:\sqrt{7}} \]