Ahh, I just realized you have an X2 with this board.
Does Windows load up fully? If so then no need to update at his time. I'm not aware of any fixes in the latest version, but I stopped at 1.8 since I'm using a single core CPU.
MSI Live update will scan you BIOS and chipset drivers and compare them to the latest available. Then it will give you the option to D/L them.
After they are D/L'd, you just double click the file and follow the on screen instructions.
When "flashing" the BIOS (updating it to a new revision), make sure to follow the instructions EXACTLY. In the past, you had to Flash in DOS using a floppy, but the MSI Windows flashing utility works well if used properly.