How do 55/34 chainrings shift There are only very, very steep climbs here in the area. Instead of the standard 50/34 I would choose a larger big ring. What I'm worried about is how that would compromise shifting. Would there be any problems? (Yes I know, 55-34 is a huge gap [EDIT: in cadence])
I think you answered your own question. The huge gap will mean you need to use a long chain for the big ring and you may not have enough movement in the rear mech to tighten it if you're in the small ring.

My guess would be you'll suck the chain into the rear wheel in some combination of gears and, at best, snap your hanger, at worse damage your frame. 

Why not use a mid-compact (52-36) and a large cassette (11-32)