I've tested all 3 BIOS (1.0B14, 2.0 and 2.01 beta) using a K7T Pro-2a, and all went well. But since I'm not so fond of all that beta stuff, I'll keep using 2.0. BTW, all those bios are said to be fully compatible with the K7T Pro-2a, as stated on MSI Germany web site.
Also, I've never been able to use Live Bios, so I just use the good old boot disk methode... Seems to be a safer way to update the BIOS...