I think you meant that the partial pressure of oxygen in your blood (pO2) is 55 mmHg, which is low and corresponds with your symptoms. As for what it means, it simply reflects that you're not getting enough oxygen, which in turn reflects your shortness of breath.
I agree, a oxygen saturation level as low as 55% is "off the scale" as far as I understand it... that is even 85% should cause serious symptoms: dizzy, headaches and worse.
I have had monitored readings as low as 85% when sleeping and that causes (or sometimes causes) me to wake up gasping for air - feeling like I am suffocating.
You must have gotten the number wrong. With an O2 sat of 55 you would not be functioning (to say the least). Ask for clarification.