It should work with a pair of 6550's, but not as well as the bigger iron. I suppose that's subjective since I have no idea what you are hoping to accomplish, but as you say the big, clean low frequency response would be seriously diminished.
Was the factory OT destroyed, stolen or compromised somehow?
It would never occur to my to try it, so I can't definitively say it's 100% OK as far as damage. My rule of thumb with vintage amps is to stick to the original design specifications as much as possible; with a recognition of modifications for increased/different modern power grid advancements (grounded chassis, beefed up filter sections, etc.).
A
Smaller OT would never get on my radar. Let us know what happens...