Yes. If it's going to refer to one number (55), it needs a hyphen, otherwise it looks like you're writing about 50 and 5.
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It is fifty five thousand five hundred fifty five and five hundred fifty five thousand five hundred fifty six millionths.
No. I cannot see any hyphen.
Nine hundred fifty-five.
To write five and fifty-five hundredths in decimal form, you first write the whole number 5, followed by the decimal point. Then write the decimal part, which is fifty-five hundredths as 0.55. Therefore, five and fifty-five hundredths in decimal form is 5.55.
It is fifty thousandths, or five hundredths.