NYReefer
Are you planning ( or already have ) a sump under the 55 gallon display tank ?
The reason I ask ..... most hang on external overflows require a certain amount of flow through them, call it a minimum flow, to insure that air bubbles do not become entrapped in the upper curve of the U tube. If you don't have enough flow through the U tube, small air bubbles WILL accumulate in the upper curve. If this happens, and this air pocket grows large enough in there, it will cause the U tube siphon to break, the display tank will overflow and you'll empty your refugim ... and may damage the return pump.
If you have enough flow to keep these air bubbles moving through the U tube ..... then you'll be fine.
Most folks keep the flowrate through their refugiums pretty low.
Many folks will use a sump AND a refugium to overcome this U tube overflow minimum flow requirement.
Lots of ways to use a sump & fuge combination.