Translation:It is 5:05.
Here is an excellent YouTube video link that explains this issue with the pronunciation changes in "fun". It helped me a lot and I have it all memorized now.
Just remember that numbers 1, 3, 4, 6, 8 and 10 have a "pun" pronunciation. Out of those special numbers, numbers 1, 6, 8 and 10 are shortened with "pun". For example, ichi pun becomes ippun, roku pun becomes roppun, hachi pun becomes happun, and ju pun becomes juppun.
I think some numbers could be figured out by just seeing what's more comfortable to say. If there are sounds before pun/fun that are sort of stopping air from coming out your mouth, than having "fun" is a fun way to relax your mouth afterward (pun intended) (pun intended for the pun intended)
I wish we could learn just ONE alphabet or have it romanized, I cannot cope with the two and different pronunciations as well. Might have to give up this language and learn it differently somewhere else. And why 5.05? I would just like to start with the basic hours - how often does one say 5.05 or 6.06?