I read the manual that came with the H55 and watched some videos on how-to install it. I did everything right for LGA 1150, but I can't hear a pump or any moving parts running inside of the water block.
I have a 4770 at stock clock and even in the most powerful games I have I don't go over 45ºC with the stock CPU fan at 50%. I don't know what to tell you, I mean I don't know why do you have such high temperatures, but in my opinion you should inspect if everything is well installed and if you can't figure it out maybe take it to shop
Those temps are too high. At around 105 degrees C, your computer would shut itself down. Anything above 80 degrees will shorten the lifespan of the CPU. Though, it could be an inaccurate reading. I'm not sure what you have used to view your temps.
Ya it sounds like the coolant is not flowing so you are not getting any cooling at stock on that cooler I would be surprised to see more the 70c under a stress test