Probably fine, but a un55 in 110mm isn't going to set you back much so personally I'd get it right and not have to worry about bursting in to flames or being beset by a plague of skidding locusts (or whatever happens when chainline is out by too much).
Are the cranks these ones? If so, it looks like you need a 110mm BB to get a chainline of 42mm (105mm will be 2.5mm out).