Your pump is too powerful for a 55-gallon IMHO, especially if you have a bio ball wet/dry. That's about 14-times the tank's volume per hour. My 55-gallon actually does 7 times.
The bio balls, yes, should stay out of the water, but never dry. That's why it's called wet/dry. They stay dry because they are kept elevated somehow over the sump, so water just drains through the bio balls and into the sump where it collects there.
And yes, you'll have to make sure as much water leaves the tank as it enters from the return sump pump. A capable overflow is necessary for this.