They're the same thing, just different names in most cases. There may be some exceptions with some of the custom control panels out there because they could be setup so that you have true multi-domain hosting, but addon domains just imply that the domain is an addon to the account, meaning that the addon domain doesn't have its own control panel.
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Yeah, the main issue is you won't have separate control panels for managing the sites.
It won't be a trouble as long as you manages all the domains.
It won't be possible to give access to someone for a single domain.
Hello,
Even though you have a shared account which allow only one domain, you can add more domain to the amin domain that is the actual doamin for example
You have a hosting account at www.domain.com now if you add an add on domain named www.domain1.com what the control panel does automatically make a sub domain named www.domain1.domain.com. It is same as in the case of multiple domain hosting.
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