When a 5-cc cube is sliced into 1 cc cubes, we will get 5 * 5 * 5 = 125 cubes of 1 cubic centimeter.
On each side of the larger cube, the smaller cubes on the edges will have more than one of their sides painted. Therefore, the cubes which are not on the edge of the larger cube and that lie on the facing sides of the larger cube will have exactly one side painted.
In each face of the larger cube, there will be 5 * 5 = 25 cubes.
Of these, the cubes on the outer rows will be on the edge. 16 such cubes exist on each face.
If we count out the two outer rows on either side of the face of the cube, we will be left with 3 * 3 = 9 cubes which are not on the edge in each face of the cube.
Therefore, there will be 9 cubes of 1-cc volume per face that will have exactly one of their sides painted.
In total, there will be 9 * 6 = 54 such cubes.
Hence, the answer is D.