I train that way for strength and mass gains. Mon Wed Fri split push/pull. I dont go longer than 12 weeks as its very taxing on the CNS and joints due to lifting relatively heavy weights. About losing body fat, it will honestly come down to diet. Your diet will determine whether or not you will shed fat, but to be blunt about it, 5x5 is geared towards more mass and strength and that pertains also to eating enough to get bigger and stronger. To put it in simpler terms, I do the 5x5 when I am "bulking" so I need not worry about fat loss, I just dont wanna add too much. If executed correctly, the gains are without a doubt worth it. Goodluck