IMO, the hissing noise is air getting sucked back into the lines, since they are under a vacuum state when the lines collapse. There is no real way for the system to be under air pressure without a lift pump. none that I could think of anyway.
That is the real question though, is air going in or is air coming out? You shoudl get a vacuum/pressure gauge with an adaptor for the bleeder screw threads and test it. If it happens and the truck shuts off, will give you a pretty clear indication of whether it is a vacuum issue or not.