base on your screenshots. that is not your video card driver.
AMD Radeon HD 5500 Series (Microsoft Corporation - WDDM v1.20)
its from microsoft corporation. the WDDM v1.20
if you installed your video card. you can only see on the device manager is AMD Radeon HD 5500 Series without (Microsoft Corporation - WDDM v1.20) that is the problem on your system that's why there is no available resolution.
updated it again with the one from ati.amd.com and yeah, managed to rip off microsoft etc. from the device name. still having the same issue.
your pc is a 64bit os right? try to use the 64bit installer. base on your screenshots you use 32bit