Hey mate, I got around to trying this and it worked. I managed to update my BIOS.
I tried turning X.M.P on however, which worked - I rebooted my PC as recommended but CPU-Z still shows my RAM running at 665.2mhz frequency. I have 1600mhz Corsair Vengeance RAM. (Sorry, I know this is off topic but I thought it'd be better to mention this here than create an entirely new topic?).
But, thanks to you Anonymous - my BIOS is now updated, however it is still glitchy like in the above picture. The Live update tool did include a downloadable version of click bios ii, which works just how the BIOS should do. Thanks! If you, or anyone else could help me with my RAM problems that'd be awesome.
You need to have XMP enabled in the BIOS and your speed of RAM should show as 1600 or 800.
The thing is, what I wrote before was confusing. The BIOS is still the same at startup, but I downloaded the CLICKBIOSII software from MSI, which functions somewhat the same. I turned X.M.P on, but my RAM is still running at 667mhz in CPU-Z etc. I can choose to change the frequency of my RAM to 800mhz, 1066mhz and 1333mhz in the BIOS software.
This is what the BIOS looks like now: (At start up)