I'd say that your Hardware Monitor Temp#2 is your processor. The 79 degrees issue normally is the non-existent sensor that'd probably be in the NB. Now, I have no idea why these 2 readings got switched in your case.
I'd ask Gigabyte to either fix it quickly or I'd consider sending the board back if you can do that.

As you can see, in my case, first temp reading is "system temperature", second is "CPU temp" and third is a non-existent sensor. Frankly, I've been a little worried about it as with stock cooler it said 78-79 degrees and now it starts as 78-79 and then goes up to 81. At the very least, it can't be the NB as I added a fan that blows outside air onto it and there was no effect whatsoever.
Don't mind the variable CPU voltage or lack of core temps.