Yes. On the Canon EOS 55, the meter scale is read in half-stop increments.

• The numbers are full stops: -2, -1, 0, +1, +2
• The dots between them are half stops: -1.5, -0.5, +0.5, +1.5
• So the display covers 2 stops under to 2 stops over the metered value

In manual mode, if the indicator flashes at +2 or -2, the required exposure is beyond the visible scale. In auto-exposure modes, the shutter speed and/or aperture will flash if the camera has reached the lens/camera limit and still can’t achieve the metered exposure.

The EOS 55’s control dials also work in half-stop steps, so the meter movement matching each click is expected.

As for readings changing quickly: some movement is normal if the scene changes even slightly, especially with different tones or bright/dark areas entering the metering area. Without a specific test setup, it’s hard to say whether your camera is unusually jumpy, but the scale itself is behaving as designed.