As long as you do not hold the RPMs for too long, a brief burst to 5500 rpm will not do much harm. During break in, the biggest risk is holding on to a steady speed for too long. So highway driving on cruise control is much worse than a brief spurt to the red line. This is because motion components are settling into place. Their relative position will change with the speed/RPMs of the car/engine. If you stay at one position for too long, any imperfection in the interaction between the two can cause localized wear. As long the interaction between the two components is varied across different surfaces by varying the speed/RPM, the imperfection wears off without a local wear spot. Kind of like the burn in on a plasma TV.
2011 528 Black/Black ZPP ZP2 BMW Apps
2005 330Ci SparkGraphite/Gray Retired ZHP, Step, Nav, Xenon, Heated Seats, PDC
2007 X3 3.0si AlpiWhite/Tobacco ED Retired Step, ZSP, ZPP, ZCW, PDC, Nav, Xenon, Privacy Glass, Servotronic, Cargo Net
2002 745Li Slate Green Metallic/Beige Retired; Perfect baby-hauler
2006 525 TiAg/Black Retired; nice but not an E39
2004 3.0 Z4 Black/Black/Black SMG Retired but not forgotten...
2003 525iA TiAg/Gray Retired; Long live the King of all Bimmers, the E39