I've used both, and own the M294's. Mind you, the application is solo fingerstyle acoustic and classical guitar - that's it. The 294's have a treble boost, to allow them to be used in the diffuse field. I have a pair of Schoeps CMC6/MK4, so I wanted something a bit different - frequency response wise. The M295's are flatter.
The M294/295 have stunning detail and accurancy, almost to a fault. They take eq like butter. Excellent off-axis response, forgiving on mic placement. They have that old Neumann/MG pedigree sound, whatever that means. A bit of color I guess, very pleasing. Not as musical as the Schoeps, but not as clinical sounding as DPA.
Hope that helps.