Supplying the Arduino with 5.5V Vcc via its 5V pin is *NOT* recommended. The LMV358 OPAMP used for Vin/Vbus power switching control is only rated for abs. max. 5.5V operation, so even fractional overvoltage on your +5.5V rail could cause it to malfunction, possibly turning on the power gating MOSFET, backfeeding 5.5V to your PC's USB port. Worst case, that could kill your PC if you switch off, sleep or hibernate with the Arduino connected.
Also 5.5V Vcc is right at the top end of the ATmega328P's operating voltage range with no margin whatsoever, so again, overvoltage could cause a malfunction.
Will it work? Probably, but the risk of serious damage or malfunction is too high for my liking.
Instead, as I said earlier, if you haven't got 5V on the DAC board, use potential dividers in place of the pullups. 4K7 upper resistor and 47K lower resistor, from 5.5V give an equivalent pullup voltage of 5.0V, and equivalent pullup resistance of 4.27K. The same approach can be used for any other desired pullup resistance, by using an upper resistor of 10% greater than the desired resistance, and a lower resistor of ten times the upper resistor.