from Wikipedia:
So for a 22KHz Hsync signal, the refresh rate should be around 22,000 ÷ (384 x 1.05) ≈ 54.56 Hz.
Is that correct, or am I completely wrong?
The vertical resolution of a compact Mac isn't 384 pixels, it's 342. Divide the
22.25khz hsync by that and you'll end up with about 65, but the stated vsync for the Mac CRT is 60.15hz, which gives you about 370 lines; that makes for a reasonable 28 lines for the front/back porch (IE, overscan/borders and time for the beam return.) As used with most computers NTSC frequency monitors have *much* bigger porches, with only 200 active lines per the 262.5 in a non-interlaced frame.
(Honestly I'm pretty skeptical of that claim that 5% of the time is used to move the beam back up to the top; in fact, I'm willing to bet a shiny nickel on it and the person is just confusing the overscan/blanking periods with the actual beam return time. If I'm reading this NTSC timing diagram right it's active for about three Hsync periods, which is less than 1%.)
Theoretically any projector with a compatible horizontal scan rate should be good, right?
Well, if we put aside the issues with finding that projector with compatible scan rates... yes? I mean, the issue you might run into is if you had (theoretically), say, a projector that had a 22khz hsync rate that was built to do something weird like display non-interlaced PAL resolution video at 70hz instead of its normal 50hz (not saying such a thing exists, but we're spitballing here) your attempt to run it at higher resolution at a lower refresh could make it difficult to size the resulting picture. (The default vsize controls on this hypothetical monitor would result in vertically stretched frames, and there might not be enough adjustment to push it down to an acceptable height. Again, here, I'm assuming analog equipment. If you're dealing with equipment smart enough to put a jaded eye to what you're feeding it there's a really good chance it'll just sound an "out of range" alarm bell and refuse to comply.)
To use a real-life example, the *first night* I installed Linux, on a cruddy 486 with a brain-dead SVGA card and an NEC Multisync GS monochrome monitor, I started playing with "xvidtune" to see if I could squeeze a higher screen resolution out of what I had available to me as X11, even way back then, was basically useless at 640x480. (The Multisync GS officially topped out at VGA's 31.5khz hsync but was very forgiving of "weird" video modes so I thought it was worth a shot.) When pushed to the "standard" base 800x600@56hz SVGA mode the monitor *would* lock onto it, but the flyback actually made an ominous noise and it was impossible to get the display sized onto the screen. An hour or so of experimentation off that base resulted in a custom 800x600 @51hz modeline that took the hsync back down into the normal VGA ballpark, and I was *just able* to squeeze it onto the screen with extreme adjustment of the knobs...
But note that the resulting mode didn't work *at all* on a normal fixed-frequency 640x480 VGA color monitor in spite of being technically within hsync specs, at least. So your mileage will very much vary.