Even though I don't do astro photography, I'll throw in my brief 2 cents.
An imaging Newt usually has a short focal length, say f/4. Focal lengths such as this are often referred to as being 'fast.' They allow wider fields of view with shorter exposure times. If you tried to use an f/4 Newt for observing you'd get quite a bit of coma. You'd need a paracorr or something along those lines to get a cleaner image.
An observing Newt has a longer focal length.
In my opinion the dividing line seems to be f/4 and lower for imaging, and f/5 and up for observing. I use an f/5 for observing and I barely notice any coma (though that may be a result of the Televue eyepieces I use). I have looked through some f/4 newts and the coma is quite noticeable.
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