I didn't see in the OP whether the Iota stayed at 55 amps for a long time before going into Absorption.
The Iota blurb says it will go straight to Absorption (what they call their 14.2v level) but do 55amps at first at that 14.2. My 7355 will too but at 13.8v instead of 14.2 whoopee-do! :)
So just because it did 55a does not mean it was in bulk. You want to know if battery voltage ever got up past 14.2v. It looks like the OP did not get back to see what was happening and it could have done either, where it was at 14 by the time he got back to it?