I have a 5500, but no storage card at the mo, so I can't really do this test myself.
Anyway I used the pdaXrom with the -mcpu switch so hopefully it has generated ARM4 (5500/5000D code).
The file to try is this one:
after installing it try running 'R'. If there's an instruction set problem then it will fall over with a SIGILL error. If something else happens then I've probably messed up somewhere else. In either case I'd like to hear about it.