I found N's timburr and caught it (no low health just a quick ball) I dont understand because I originally thought it was shiny but it said another OT so whats so special about it and does it give any benefits Pokemonwise (another ability, better stats, evolve a different way?)
There is something special about N's Pokemon; they all have (near) perfect IVs, which means their performance is the best of their species (top percentage!).
Also, when a Pokemon has a former OT, it will gain boosted experience.
Not much.
No it doesn't. There's nothing special about it besides that it is N's Pokemon. Although if you catch them you do get a medal. :)
Using Memory Link, you get a flash of when N started releasing his Pokémon within Chargestone Cave. This will activate the event and you'll be able to find all the Pokémon that N had on his team before the end of the game of Pokémon Black & White. These Pokémon are found in the wild, and give you a note as battle starts, indicating that they may not be wild. It won't let you rename them.
More info on N's Pokemon