.55 should not matter. If a BH sees red but there is no outstanding bounty for that individual or faction they are ID’d as, a BH cannot engage unless engaged upon. The only exception is if they are hired by someone on the spot. It’s as Karst says, prevents people from being all Glock and no talk.
Here’s an interesting scenario. I’m contracted to escort a trader through the Omicrons when someone red to the transport but white to me shows up. They are making hostile gestures and are close but have not outright declared they are attacking. As of now, they are a perceived threat, not an actual threat. There is no bounty for them on any boards. Our demands to maintain a wider perimeter is going unanswered. It is clear that we are wanting to avoid hostilities. Can I attack the target in a proactive attempt to protect my contract or must shots be fired from the bogey before I can return fire?
It ain't about what you are capable of, it's about what you're willing to do.