Depends on the cadence you ride. And the type of racing. I think the added slightly increased gearing of a 55/42 over 53/39 when paired with a 12-XX (either 23-27 depending on the course) is a better choice if you can push it. If there is a ripping tailwind on a flat course, you may not want to be spinning 110 rpm's. You may prefer to be riding at your comfortable cadence and keeping watts consistent.
55-12 is about 1/2-way in between 53-12 & 53-11. People who say you only need a 55 if you spin out a 53-11 are just silly. It is about what gives you the best gearing in the meat of your cassette. If you like to ride 80-90 rpms and have decent watts, then a 55 might be a good fit for you.
Remember, Lance & the other UCI riders have HUGE climbs, the likes of which you will never see in a triathlon. And when they are riding really fast it is in the Peloton, which is a whole different beast. You will see many of them riding bigger rings on their TT bikes.
Rings are not that pricey. You can always buy a pair and see if they work for you. eBay them if not... FYI, do NOT use FSA rings with Shimano drivetrains. Use Shimano rings. Use FSA only with Campy drivetrains...
I am planning on switching to a 55/42. If I don't like it, so what. I think it'll give me more of what I want in the middle of my gearing and a slightly preferable range. I plan on pairing it with a 12-27 for hilly courses and a 12-23 on flats. From looking at gear calculators, both of those seem much more usable than a 53/39 paired with a 11-21 or 11-23.
It does help to be able to back up your ring selection with some watts, though...
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