You misunderstand. exFat is ALREADY supported in Canon original
firmware of 550D, nothing to be done on this side by Trammel (this is
the first camera in the world which supports exFat and SDXC). All you
mentioned is already inthere.
All I am suggesting is to remove the file size check function, keep
recording without considering the 4GB file limit or the 29'59" time,
don't stop. That's it.