This can probably be filed under "will never make a practical difference," but a thought just occurred to me. I think AhKhxx is worth less in PLO than a hand like AhThxx.

Imagine if I have AhKhxx and the board is 7hTh3h. If I have the king of hearts in my hand, no one else can have the second nut flush. Can the potential for an opponent to have a second-best hand outweigh rank? Does anybody else agree with this?

I'm aware that this could be a farrell-type idea, but I wanted to throw it out there anyway. Obviously one would still play AhKhxx just as fast as AhThxx (so long as the xx's fit well with the rest of the hand), but when determining whether or not to fold to a raise preflop, is this ever taken into consideration when evaluating hand strength?

I don't think it would make much of a difference. I'd rather play the AKh only in the sense of having a better A kicker if necessary, but I do see your point. But as for calling a raise, I don't think it makes any difference as long as your xxs fit as you said.

Actually its a fairly common concept. Remember against the bad opponents you see in PLO, second best hands is a great source of profit. One of the reasons for wanting more people in the pot when drawing to the flush (besides better odds) is that you are hoping somone is calling hoping to make a dominated hand. People are going to have a much harder time laying down a king high flush compared to queen high flush. So, both AhKh and AhTh are decent starting hands but I would much rather draw to the flush with the second one.