If you are not using a device which operates at TTL logic levels (0 V for LOW, 2.5 V for HIGH) then there is no point using a chip whose function is to convert from those logic levels.
Perhaps more to the point, if you are actually using this as a buffer some distance away (over cabling) from the data source, being a 5 V Arduino (UNO, Nano etc.) then choosing a device with an asymmetric threshold (1.25 V instead of 2.5 V) will actually distort the timing to an extent dependent on the capacitance of that first run of cable. 
I cannot see why you would deliberately want to do that?