From my understanding, it will work, but you don't get quite as much PAR as you would from individual reflectors. In a 55 gallon with 4 t-5 ho's, you're going to get enough light with a Nova Extreme, IMO. I suggest you ask The GrimReefer in the "Lighting, Equipment" Forum regarding the best configuration/Kelvin. He is knowledgeable regarding the brands and Kelvin readings that maximize the PAR. Generally speaking, daylight bulbs are going to give you a higher PAR than actinic or mostly blue bulbs. In a 55 gallon, you will want to provide a mound of live rock that extends up to 6 or 8 inches beneath the surface of the water, so the anemone(s) can station itself where it wants to in relation to the lighting. One foot below 4 t-5 ho bulbs would be very bright lighting. At the bottom of a 55 gallon, the lighting would be signficantly less intense. The anemone will go where the lighting suits it best.