Howdy-
It appears that at least as of MW 17, there is a problem with running it on top of MySQL 5.5.
According to MySQL:
The "update.php" script in MW 17 (at least) still attempts to use TYPE, and thus fails when attempting to perform an update of an older wiki install.
I haven't found anything that would imply that this is fixed in newer versions of MW, and if MySQL has been warning of this change since 4.0, there doesn't seem to be much of an excuse on MW's side :-)