The pressure is too low. The minimum charge of W748 for a 55gr bullet is 26.3gr, and that's only good for a measly 39,000 cup. I think the primers are bulgy like that because they weren't smashed back into the bolt hard enough to flatten them, except for the LC case which has a slightly smaller case volume, and therefore higher pressure.
What do I win?
Nothing... 26.0 grains is fine for a 55 grain bullet. Accurate as all hell. This was caused by...
an obstructed flash hole. Obstructed with corn media. I inadvertently loaded up a bag
of processed brass that I had put aside and hadn't inspected which is the last step in
my cleaning, sizing, cleaning, trimming,
inspecting, loading steps. This bag got
mixed in with about ten or twelve other bags of inspected, ready to be loaded cases.
When I realized it (about 60 cases) I pulled about 25 and found nothing so I took a
chance. These two were FTF so when I came home I pulled the bullets and looked at the
flash hole and they appear to be obstructed with a piece of very burnt corn media. I
shot around 140 rounds of various reloads that day and these two from that uninspected
bag were the only problems I encountered.