when engine is warm there is blue smoke coming from the dual exhaust, also misfire code reading on cylinder number five

If you are talking about the "loose" chunk top right, I don't think that there is a coolant passage there. Seems like I recall that is a solid spot. Take a look up inside the coolant passage and see if you can see damage inside. You should be able to install a threaded stud with sealer in that hole, let it set up and install the intake. That will take the stress off turning a bolt into the hole and should work.
Unless that crack extends down the head (which it doesn't appear to, looks more like the bolt wasn't all the way out when the intake got pulled). Then you would either want to replace the head or clean the area and braze it back together.

Right were the arrows are is were it's cracked

How far down the head does the crack run? Hard to tell if it got to the water jacket area or not without a pressure test.

It goes down and when I put coolant in it comes out like a waterfall from that side

Sorry to hear that, guess it hit the water jacket. All is not lost however, there are at least a few million of those engines out there. You can get a used head for around $75.00-100.00 (even cheaper if you have a you-pull it type yard, local to me place, head is $35.00)
Go to www.car-part.com and punch in your info, it will show you a few choices for used parts in your area. Doesn't show you pull it yards though.